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19 Jun 2013
USD/CHF drifting lower
FXstreet.com (Barcelona) - USD/CHF is drifting lower in the European session, continuing in a bear trend.
USD/CHF data
Without there being anything in the limelight for Switzerland until tomorrow's trade figures, the driver for the pair comes with the FOMC today while attentions will turn to the US economy and the dollar. However On June 20 the Swiss National Bank will also convene. And what will be interesting to see, is what Thomas Jordan pulls put from his “tool kit” as he put it. He has a couple of things in reserve, which are, an introduction of the negative rate on sight deposits and an increase of the floor on EUR/CHF.
USD/CHF in steep decline
USD/CHF isn’t showing any signs technically of slowing down on the daily chart, with momentum indicators in the red while heading for yesterdays lows between 0.9196 and 0.9162. If the pair continues to close lower candles on the hourly chart below the pivot, it is positioned to continue south towards February lows.
USD/CHF data
Without there being anything in the limelight for Switzerland until tomorrow's trade figures, the driver for the pair comes with the FOMC today while attentions will turn to the US economy and the dollar. However On June 20 the Swiss National Bank will also convene. And what will be interesting to see, is what Thomas Jordan pulls put from his “tool kit” as he put it. He has a couple of things in reserve, which are, an introduction of the negative rate on sight deposits and an increase of the floor on EUR/CHF.
USD/CHF in steep decline
USD/CHF isn’t showing any signs technically of slowing down on the daily chart, with momentum indicators in the red while heading for yesterdays lows between 0.9196 and 0.9162. If the pair continues to close lower candles on the hourly chart below the pivot, it is positioned to continue south towards February lows.