Key PointsThe US Dollar recovered well from the 0.9640 low against the Swiss Franc and moved above 0.9700. The USDCHF pair broke a short-term bearish trend line at 0.9705 on the hourly chart. Today, the Swiss Producer and Import Prices for May 2017 was provided by the Federal Statistical Office. The outcome was below the forecast of -0.1%, as the Producer and Import Prices declined by 0.3% (MoM). USDCHF Technical Analysis
The US Dollar faced selling pressure yesterday and declined below 0.9660 against the Swiss Franc. Later, the USDCHDF pair recovered and moved above the 0.9690 resistance and the 21 hourly simple moving average.
The pair also managed to clear the [...]
Key PointsThe British Pound recently traded higher after forming a support at 1.2770-80 against the US Dollar. The GBPUSD pair broke a major bearish trend line at 1.2855 on the hourly chart to move higher. Today in the UK, the Nationwide Housing Prices were released for May 2017. The outcome was below the forecast, as there was a decline of 0.2% (MoM), more than the forecast of -0.1%. GBPUSD Technical Analysis
The British Pound after trading towards 1.2750-70 against the US Dollar, started trading in a range and consolidated. Later, the GBPUSD pair gained momentum, and moved above the 1.2800 resistance for a move towards 1.2900.
During the upside, the pair [...]
Key PointsThe Euro moved higher and settled above the 1.4100 resistance against the Aussie dollar. There is a nice connecting bullish trend line with support at 1.4100 formed on the hourly chart of EURAUD. Today in the Euro Zone, the German GfK Consumer Confidence for March 2017 was released. The result was below the forecast, as the German GfK Consumer Confidence decline to 9.8 in March 2017. EURAUD Technical Analysis
The Euro after a decline towards 1.3880 against the Aussie dollar formed a base and moved higher. During the upside, the EURAUD pair broke the 1.4000 handle, and then managed to trade above the 1.4100 resistance area.
As the moment, the pair [...]
Key PointsThe US Dollar surged higher sharply against most major currencies as the fed decided to raise rates. There was a bearish trend line formed on the hourly chart of USDCHF, which was broken at 1.0105 for an upside move. Yesterday, the fed interest rate decision was announced by the Board of Governors of the Federal Reserve. The result was as expected, as the fed increased the interest rates from 0.5% to 0.75%. USDCHF Technical Analysis
The US Dollar popped higher sharply against the Swiss franc after the fed interest rate decision to break the 1.0100 resistance. There was a crucial bearish trend line formed on the hourly chart of USDCHF, which was cleared [...]