The US dollar was seen trading lower Intraday against the Swiss franc, as there was selling interest noted. The US dollar also traded lower against currencies such as the Euro and the British pound. There is an important event lined up during the NY session in the US i.e. durable goods orders data will be published. The market is expecting it to register a gain of 0.5%, compared with the decline of around 18% last time. If the data misses the forecast and fails to register an increase, then the US dollar might move lower in the short term. There is a monster bearish trend line formed on the hourly chart of the USDCHF pair, as can be seen in the chart below. The highlighted trend line might act as a catalyst for the pair towards the downside in the near term. The USDCHF pair recently failed around the 23.6% fib retracement level of the last drop from the 0.9558 high to 0.9475 low. Currently, the pair is testing the 200 hourly moving average, which is acting as a support for the pair and holding the downside. If the pair manages to clear the 200 MA, then it might head lower moving ahead. The next level of interest would be around the 0.9420 level. The USDCHF pair is trading below the 100 MA, which can be seen as a bearish sign and might weigh on the US dollar in the short term. We need to see how it trades during the coming sessions. Overall, one might consider selling with a break below the 100 MA. ————————————- Posted By Simon Ji of IKOFX Guest Guest View All Post By Guest MinorsUSD/CHF Forecast share Read Next The Fed expexted to end QE FxPro - Forex Broker 7 years The US dollar was seen trading lower Intraday against the Swiss franc, as there was selling interest noted. The US dollar also traded lower against currencies such as the Euro and the British pound. There is an important event lined up during the NY session in the US i.e. durable goods orders data will be published. The market is expecting it to register a gain of 0.5%, compared with the decline of around 18% last time. If the data misses the forecast and fails to register an increase, then the US dollar might move lower in the short term. There… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
