USD/CHF main mover as bulls try to regain control
The two big risk-on dollar trades had big days yesterday with USD/JPY rising during the Asian session and USD/CHF rising sharply in overnight trade after strong US economic data. Both of these pairs are trading near resistance levels at 102.50 and .9800 respectively and whilst I’m still long and bullish on USD/CHF, I think it’s quite possible that we see some more extended range trading before any big moves emerge.
AUD/USD will again open near important daily support at .9580 and EUR/USD looks certain to test important technical support at 1.2745 sometime over the coming days. Cable is also back near the important psychological level at 1.5000 and is starting to look heavy again.
Good luck today.