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Forex Forum to Share, Discuss, Communicate and Trade Forex • Daily Market Outlook by Commexfx
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Re: Daily Market Outlook by Commexfx

PostPosted: Tue Sep 02, 2014 7:07 am
by CommexFX
Daily Outlook 2-09-2014

EUR / USD
The EUR traded lower against the USD and closed at 1.3131, after the German GDP contracted in the second quarter of 2014.

In other economic news, the rate of expansion in Euro-zone manufacturing production eased to a 13-month low in August. The PMI in the Euro-zone dropped to 50.7 in August, compared with 51.8 in July. Moreover, with prospects of more sanctions by EU leaders on Russia for its recent incursion in Ukraine, the Euro is expected to remain under pressure.

The pair is expected to find support at 1.3111, and a fall through could take it to the next support level of 1.3100. The pair is expected to find its first resistance at 1.314, and a rise through could take it to the next resistance level of 1.3158.

Going forward, investors would pay attention to a slew of economic releases from the US later in the day.

GBP / USD
The GBP rose 0.13% against the USD and closed at 1.6612.

the UK market PMI edged down in August to 52.5, falling to its lowest level in 14-months, against market expectations for a reading of 55.1 and compared to a reading of 54.8 registered in the prior month. Additionally, data revealed that the UK borrowings rose a total of £3.4 billion in July, the highest in six years.

The pair is expected to find support at 1.6561, and a fall through could take it to the next support level of 1.6537. The pair is expected to find its first resistance at 1.6627, and a rise through could take it to the next resistance level of 1.6669.

Trading trends in the Pound today are expected to be determined by the PMI construction data from the UK, scheduled in a few hours.

USD / JPY
The USD strengthened 0.18% against the JPY and closed at 104.32. the vehicle sales in Japan eased 5.0% on an annual basis, in August, following a 0.6% rise registered in July. Early morning data indicated that the labour cash earnings in Japan had risen 2.6% in July, compared to a revised 1.0% rise in the previous month, while markets were expecting it to rise 0.9%

The pair is expected to find support at 104.3, and a fall through could take it to the next support level of 103.85. The pair is expected to find its first resistance at 105.01, and a rise through could take it to the next resistance level of 105.26.

Going forward, investors await services PMI data from Japan, scheduled to release early tomorrow.

USD/CHF
The USD rose 0.07% against the CHF and closed at 0.9195. The Swiss Franc lost ground, after Switzerland’s manufacturing PMI fell to 52.9 in August.

The pair is expected to find support at 0.9183, and a fall through could take it to the next support level of 0.9166. The pair is expected to find its first resistance at 0.9211, and a rise through could take it to the next resistance level of 0.9222.

Trading trends in the Swiss today are expected to be determined by the Q2 Swiss GDP, scheduled in a few hours.

Re: Daily Market Outlook by Commexfx

PostPosted: Wed Sep 03, 2014 7:27 am
by CommexFX
Daily Outlook 3-09-2014

EUR USD
The EUR traded marginally higher against the USD and closed at 1.3134.

In economic news, the PPI in the Euro-zone eased 0.1% in July, compared to a rise of 0.1% in the previous month. Elsewhere, In Spain, the number of unemployed people registered a rise of 8.1K in August, following a 29.8K decline in the prior month but lower than market expectations.

In the US, the manufacturing activity expanded in August at the fastest rate since March 2011.

The pair is expected to find support at 1.3117, and a fall through could take it to the next support level of 1.31. The pair is expected to find its first resistance at 1.3145, and a rise through could take it to the next resistance level of 1.3156.

Trading trends in the Euro today are expected to be determined by services PMI data from the Euro-zone and its various peripheries as well as Euro-zone’s retail sales data, set for release in a few hours.

GBP USD
The GBP fell 0.85% against the USD and closed at 1.6470.

In economic news, the UK construction PMI grew at its fastest pace in 7 months to a level of 64.0 in August, higher than market expectations.

The pair is expected to find support at 1.6423, and a fall through could take it to the next support level of 1.6378. The pair is expected to find its first resistance at 1.6553, and a rise through could take it to the next resistance level of 1.6638.

Trading trends in the Pound today are expected to be determined by services PMI data from the UK, scheduled in a few hours.

USD/JPY
The USD strengthened 0.77% against the JPY and closed at 105.12.
data indicated that the Japanese services sector slipped into contraction, as the nation’s services PMI dropped to 49.9 in August, down from a level of 50.4, registered in the prior month.

The pair is expected to find support at 104.8, and a fall through could take it to the next support level of 104.41. The pair is expected to find its first resistance at 105.44, and a rise through could take it to the next resistance level of 105.68.

USD/CHF
The USD traded lower against the CHF and closed at 0.9191.

The Switzerland’s economy stagnated on a quarterly basis in 2Q 2014, following an expansion of 0.5% in the previous quarter.

The pair is expected to find support at 0.9182, and a fall through could take it to the next support level of 0.9171. The pair is expected to find its first resistance at 0.9209, and a rise through could take it to the next resistance level of 0.9225.

Amid lack of economic releases from Switzerland today, investors would pay attention to economic news from other countries.

Re: Daily Market Outlook by Commexfx

PostPosted: Thu Sep 04, 2014 7:07 am
by CommexFX
Daily Outlook 4-09-2014

EURUSD
The EUR rose 0.13% against the USD and closed at 1.3151, following report about a possible cease-fire agreement between Russia and Ukraine. The service sector in Germany, Euro-zone’s biggest economy, further worsened , falling to 54.9 in August.

the services PMI in the Euro-zone dropped to 53.1 in August, down from a reading of 53.5 in July.

In the US, the new orders for factory goods jumped in July, pointing further signs of strength in the manufacturing sector. The factory orders rose 10.5% in July, marking its biggest one-month increase since 1992, following a 1.5% increase in the previous month.

Separately, the Fed, in its Beige Book survey, indicated that the US economy continued to expand at a “moderate to modest” pace over the summer, as all twelve Federal Reserve regions continued to expand.

The pair is expected to find support at 1.3126, and a fall through could take it to the next support level of 1.3104. The pair is expected to find its first resistance at 1.3165, and a rise through could take it to the next resistance level of 1.3182.

Trading trends in the Euro today would be determined by the much crucial interest rate decision by the ECB, scheduled later today. Meanwhile, investors would also keep a close eye on German factory orders, French unemployment rate and initial jobless claims data from the US, set for release in a few hours.

GBP USD
The GBP traded tad lower against the USD and closed at 1.6463.

The service sector activity in the UK expanded at the fastest pace in 10 months in August, pointing to a continued strong recovery in the sector. The services PMI in the nation jumped to 60.5 in August, from a reading of 59.1 registered in the previous month. Markets had expected the index to decline to 58.5.

The pair is expected to find support at 1.6432, and a fall through could take it to the next support level of 1.6406. The pair is expected to find its first resistance at 1.6491, and a rise through could take it to the next resistance level of 1.6524.

Trading trends in the Pound today are expected to be determined by the BoE’s crucial interest rate decision, scheduled later today.

USDJPY
The USD weakened 0.27% against the JPY and closed at 104.84.

This morning, the Bank of Japan (BoJ), kept its upbeat view about the nation’s economy, though it admitted that the effects of the April sales tax hike still prevails.

The pair is expected to find support at 104.63, and a fall through could take it to the next support level of 104.39. The pair is expected to find its first resistance at 105.23, and a rise through could take it to the next resistance level of 105.58.

Going forward, investors would keep a close on the BoJ’s monthly survey as well as the leading economic and coincident indices data, scheduled to release tomorrow.

USDCHF
The USD declined 0.16% against the CHF and closed at 0.9176.

The pair is expected to find support at 0.9167, and a fall through could take it to the next support level of 0.9157. The pair is expected to find its first resistance at 0.9195, and a rise through could take it to the next resistance level of 0.9213.

Amid lack of economic releases from Switzerland today, market participants would await Q2 Swiss industrial production, slated to release tomorrow.

Re: Daily Market Outlook by Commexfx

PostPosted: Fri Sep 05, 2014 7:54 am
by CommexFX
Daily Outlook 5-09-2014

EUR USD
The EUR declined 1.63% against the USD and closed at 1.2936, following the ECB’s unexpected decision to cut its benchmark interest rates and loosen monetary policy even further.

The ECB lowered its main lending rate to 0.05%, a record low from 0.15% and announced a new economic stimulus program that would involve purchase of covered bonds and asset-backed securities in October.

The greenback received a boost from mostly healthy US economic data which continued to reinforce expectations that an interest rate hike may be implemented sooner-than-expected.

The pair is expected to find support at 1.2851, and a fall through could take it to the next support level of 1.2768. The pair is expected to find its first resistance at 1.3086, and a rise through could take it to the next resistance level of 1.3238.

Trading trends in the pair today are expected to be determined by the much critical 2Q GDP of the Euro-zone scheduled few hours from now, as well as unemployment rate and non-farm payrolls data from the US, slated to release later today

GBP USD
The GBP fell 0.87% against the USD and closed at 1.6320, after the BoE stuck to its current loose monetary policy, despite two policymakers voting for a rate hike at the last meeting.

The BoE’s Monetary Policy Committee kept the benchmark interest rates unchanged at a record low of 0.5%. It further maintained the total size of its bond portfolio untouched at £375 billion, following their September policy meeting.

The pair is expected to find support at 1.6243, and a fall through could take it to the next support level of 1.6176. The pair is expected to find its first resistance at 1.6422, and a rise through could take it to the next resistance level of 1.6534.

Going forward, investors would pay attention to inflation expectations from the BoE, scheduled to be released today.

USD/JPY
The USD strengthened 0.52% against the JPY and closed at 105.39 amid prospects of higher US interest rates after US economic data continued to be encouraging.

Early morning data indicated that, in Japan, foreign exchange reserves surplus expanded to $1278.0 billion in August, following a surplus of $1276.0 billion recorded in the previous month.

The pair is expected to find support at 104.82, and a fall through could take it to the next support level of 104.31. The pair is expected to find its first resistance at 105.79, and a rise through could take it to the next resistance level of 106.24.

Going forward, investors await the BoJ’s monthly survey, as well as the leading economic and coincident indices data, scheduled shortly.

USD/CHF
The USD rose 1.65% against the CHF and closed at 0.9327.

The pair is expected to find support at 0.922, and a fall through could take it to the next support level of 0.9116. The pair is expected to find its first resistance at 0.9382, and a rise through could take it to the next resistance level of 0.944.

Trading trends in the Swiss Franc today would be determined by Swiss Q2 industrial production, set for release in a few hours.

Re: Daily Market Outlook by Commexfx

PostPosted: Tue Sep 09, 2014 8:16 am
by CommexFX
Daily Outlook 9-09-2014

EUR / USD
The EUR declined 0.43% against the USD and closed at 1.2898, as the Sentix investor confidence in the Euro-region deteriorated in September.

Yesterday, the ECB Executive Board Member, Sabine Lautenschlager, supported the recent decision of the ECB to cut its key interest rate, stating that it was necessary to prevent the risks of too low inflation and boost economic growth in the common currency bloc.

Separately, the IMF Chief, Christine Lagarde, suggested that the weakening of the Euro against the USD in the past few days is a positive sign for “recovery” in the single-currency bloc.

In the US, consumer credit climbed by $26.0 billion in July, higher than market expectations for a rise of $17.0 billion and compared to $18.8 billion in the previous month.

The pair is expected to find support at 1.2853, and a fall through could take it to the next support level of 1.2824. The pair is expected to find its first resistance at 1.2934, and a rise through could take it to the next resistance level of 1.2986.

Amid a light economic calendar in the Euro-zone as well as in the US, trading trends in the pair today would be determined by global news.
GBP/USD
The GBP fell 0.73% against the USD and closed at 1.6095, as house prices in the UK rose less than expected in August, raising concerns over the health of the housing market in the nation.

Economic data released this morning indicated that like-for-like retail sales in the UK rebounded sharply, increasing 1.3%, on an annual basis in August, higher than market expectations for a rise of 0.3% and compared to a 0.3% fall recorded in the previous month.

The pair is expected to find support at 1.6029, and a fall through could take it to the next support level of 1.5977. The pair is expected to find its first resistance at 1.6180, and a rise through could take it to the next resistance level of 1.6279.

Trading trends in the Pound today would be determined by the UK’s industrial and manufacturing data, scheduled for release in a few hours. Meanwhile, investors would keep a close eye on the BoE Governor, Mark Carney’s speech, as well as the NIESR’s crucial GDP estimate for the UK, scheduled later today.
USD/JPY
The USD strengthened 0.75% against the JPY and closed at 106.00.

Earlier today, the minutes of the BoJ’s latest monetary policy held in August indicated that policymakers are optimistic about Japan’s economic recovery and expect inflation to rise gradually.

The pair is expected to find support at 105.4, and a fall through could take it to the next support level of 104.57. The pair is expected to find its first resistance at 106.67, and a rise through could take it to the next resistance level of 107.12.

Trading trends in the Yen today would be determined by Japan’s consumer confidence index as well as machine tool orders data, scheduled shortly.

USD CHF
The USD rose 0.45% against the CHF and closed at 0.9353. The Swiss Franc came under pressure, after retail sales in Switzerland fell unexpectedly at an annualized rate of 0.6% in July.

Meanwhile, the seasonally adjusted Swiss unemployment rate rose 3.2% in August, in line with market expectations. It follows a similar increase registered in the previous month.

The pair is expected to find support at 0.9329, and a fall through could take it to the next support level of 0.9289. The pair is expected to find its first resistance at 0.939, and a rise through could take it to the next resistance level of 0.9411.

Re: Daily Market Outlook by Commexfx

PostPosted: Thu Sep 11, 2014 10:11 am
by CommexFX
Daily Outlook 11-09-2014
EUR USD
EUR/USD gained 16 points to trade at 1.2955 as traders continued to interpret the ECB moves and its assistance to the Eurozone economy. There is virtually no Eurozone or US data today so trader are looking for reasons to trade. Last week’s August payrolls report brought a major disappointment with employment growth slowing to 142 000.
EUR/USD remains neutral for the moment. Some more consolidation would be seen above 1.2859 temporary low. But upside of recovery should be limited by 1.3159 resistance and bring fall resumption. Below 1.2859 will extend recent fall to 1.2755 key support level.

GBP/USD
The GBP rose 0.62% against the USD and closed at 1.6208, after the BoE Governor, Mark Carney, testified at the August Inflation Report Hearings, that the UK is moving towards a rate hike.
Yesterday, the BoE’s Monetary Policy Committee member, David miles, stated that he expects more slack in the UK labour market and further indicated that there is less immediate need for a rise in interest rates.
Earlier today, the RICS house price balance in the UK dropped to 40% in August, against anticipations that the house price balance to fall to 47%.
The pair is expected to find support at 1.6088, and a fall through could take it to the next support level of 1.5981. The pair is expected to find its first resistance at 1.6267, and a rise through could take it to the next resistance level of 1.6339.

USD JPY
The USD strengthened 0.59% against the JPY and closed at 106.83.
The BSI of large manufacturing industries in Japan registered a rise of 12.7%
The pair is expected to find support at 106.35, and a fall through could take it to the next support level of 105.96. The pair is expected to find its first resistance at 107.02, and a rise through could take it to the next resistance level of 107.29.
Going forward, investors look forward to the release of Japan’s industrial production data, scheduled tomorrow.

USD CHF
The USD rose 0.38% against the CHF and closed at 0.9365.
The pair is expected to find support at 0.9324, and a fall through could take it to the next support level of 0.9282. The pair is expected to find its first resistance at 0.9403, and a rise through could take it to the next resistance level of 0.9440.

Re: Daily Market Outlook by Commexfx

PostPosted: Fri Sep 12, 2014 6:51 am
by CommexFX
Daily Outlook 12-09-2014
EUR USD
The EUR traded tad lower against the USD and closed at 1.2923.
the Euro-zone’s biggest economy, registered a flat CPI data, in line with market expectations, on a monthly basis in August.
Yesterday, the ECB, in its monthly report, reported that the policymakers would keep a close eye on the risks surrounding the outlook for inflation in the Euro. Furthermore, it reiterated that geopolitical tensions in Eastern Europe continued to weigh on the region’s economic growth
In the US, the number of initial jobless claims unexpectedly advanced to a level of 315K in the week ended 06 September 2014, higher than market expectations
The pair is expected to find support at 1.2891, and a fall through could take it to the next support level of 1.2866. The pair is expected to find its first resistance at 1.2947, and a rise through could take it to the next resistance level of 1.2978.
GBP USD
The GBP rose 0.31% against the USD and closed at 1.6258, after a new poll on Wednesday revealed that people in support of Scotland’s independence from the UK were declining.
The pair is expected to find support at 1.6186, and a fall through could take it to the next support level of 1.614. The pair is expected to find its first resistance at 1.6279, and a rise through could take it to the next resistance level of 1.6326.
Amid a light economic calendar in the UK ahead in the week, the investors would shift their attention to BoE’s minutes of the latest policy meeting, slated to release in the next week.
USD JPY
The USD strengthened 0.21% against the JPY and closed at 107.05.
Data released this morning indicated that, Japanese capacity utilization fell 0.8%, on a monthly basis in July, compared to a drop of 3.3% in the prior month, while the industrial production rose 0.4%, from a 3.4% fall registered in the same period.
The pair is expected to find support at 106.88, and a fall through could take it to the next support level of 106.41. The pair is expected to find its first resistance at 107.58, and a rise through could take it to the next resistance level of 107.81.
Going forward, investors would pay attention to the BoJ Governor speech, scheduled shortly.
USD CHF
The USD traded marginally lower against the CHF and closed at 0.9360.
The pair is expected to find support at 0.9342, and a fall through could take it to the next support level of 0.9319. The pair is expected to find its first resistance at 0.9383, and a rise through could take it to the next resistance level of 0.9401.
Investors would keenly await SNB’s interest rate decision, which will be announced in the next week.

Re: Daily Market Outlook by Commexfx

PostPosted: Fri Sep 12, 2014 7:29 am
by CommexFX
How often Do Professional Forex Traders Actually Trade?
Amateur traders are in a constant dilemma about how often to trade. They cannot accept to trade less and commit the dire offense of trading frequently without the trading edge. This results in the substantial loss of money in the markets. They cannot acknowledge that trading less brings about consistent profits in the long term market. Those who interact too often with the market are labeled as market junkies. A professional and good traders are more bothered about risk management than the amateur traders. There are various factors why you should not be trading frequently:

1. The slope of over-trading is incredibly slippery
It is often said that prevention is much better than a cure. Restrict yourself from over trading in order to prevent yourself from crying over the split milk. There is no use regretting when you have lost a substantial amount of money as the consequence of over-trading. Avoid being a gambler by trading less frequently. Execute your edge flawlessly in the market and manage your risks well. The multi – day position is what needs to be focused on. Trading less will offer you a defense mechanism against slippery slope.

2. Trading frequency is directly connected to long term trading performance
Trading with discipline and precision pays in the long run. The trading strategies of forex have to be mastered so that the trading edge is made out as soon as you look at the price chart. Mastering this skill will make you laugh at the foolishness of the amateur traders who trade frequently. Professional traders are not meant to throw darts in the dark. Forex trading strategy is the best way of disciplining yourself and restricting you from over trading. It will ensure long term profits in trading.

3. Enjoy the down time by trading fewer
Traders meticulously following the trading strategies have immense scope of enjoying the patience and down time between the trades. The traders become comfortable with this over the passage of time. Traders do not feel the need for trading without the setup and the edge. A break from the market is necessary. It helps you to acquire confidence. This enables you to build positive trading habits. Positive results are inevitable if the art of risk management is mastered. Do not behave like amateur traders who trade frequently. This is the major trading error that immature traders commit.
If you are addicted towards the market and trading more, then be prepared to lose a substantial amount of money. In case you are stuck up with over-trading, then just trade off daily charts immediately. If you want to trade with precision, accuracy, then trade less. Make use of setting and forgetting the forex trading. This will ensure your minimal involvement with the market. There is an amount of risk involved with every trade so if you want to avoid those risks trade less. Make price action your strategy for trading. This will help

http://www.commexfx.com/how-often-do-professional-forex-traders-actually-trade/

Re: Daily Market Outlook by Commexfx

PostPosted: Tue Sep 16, 2014 8:12 am
by CommexFX
Daily Outlook 16-09-2014
EURUSD
The EUR declined 0.18% against the USD and closed at 1.2938, after the Euro-zone’s trade surplus narrowed to €12.2 billion in July,

Separately, the Organization for Economic Co-operation and Development (OECD) cut its growth forecasts for major developed economies. Additionally, it urged the ECB to come up with more aggressive measures to get rid of deflation risks prevailing in the single currency region.

In the US, industrial production unexpectedly fell 0.1% in August, registering its first decline since January, while manufacturing production also registered an unexpected drop of 0.4% in the same month, thus showing signs of uneven improvement in the US economy.

The pair is expected to find support at 1.2911, and a fall through could take it to the next support level of 1.2879. The pair is expected to find its first resistance at 1.2972, and a rise through could take it to the next resistance level of 1.3001. Trading trends in the Euro today are expected to be determined by the ZEW’s economic survey for Germany as well as for Euro-zone as a whole, scheduled in a few hours.
GBPUSD
The GBP fell 0.17% against the USD and closed at 1.6230, as uncertainty continues to loom over the Scottish independence referendum.

The pair is expected to find support at 1.6216, and a fall through could take it to the next support level of 1.6194. The pair is expected to find its first resistance at 1.6264, and a rise through could take it to the next resistance level of 1.629. Going forward, investors would keep a close eye on Britain’s crucial consumer price index (CPI) data, set for release in a few hours.
USDJPY
the USD weakened 0.14% against the JPY and closed at 107.15.

Early morning data indicated that, Japanese Tokyo condominium sales slid 49.1% on an annual basis in August, compared to a drop of 20.4% registered in the previous month.

The pair is expected to find support at 106.94, and a fall through could take it to the next support level of 106.78. The pair is expected to find its first resistance at 107.31, and a rise through could take it to the next resistance level of 107.53. Going forward, investors would look forward to the BoJ Governor, Haruhiko Kuroda’s speech scheduled shortly.
USDCHF
the USD rose 0.21% against the CHF and closed at 0.9356.

In economic news, the producer and import price index in Switzerland unexpectedly dropped 0.2% in August.

The pair is expected to find support at 0.9327, and a fall through could take it to the next support level of 0.9308. The pair is expected to find its first resistance at 0.937, and a rise through could take it to the next resistance level of 0.9394. Amid lack of economic releases from Switzerland today, trading trends in the Swiss Franc would depend upon news across various economies.

Re: Daily Market Outlook by Commexfx

PostPosted: Wed Sep 17, 2014 8:05 am
by CommexFX
Daily Outlook 17-09-2014
EUR/USD
The EUR rose 0.12% against the USD and closed at 1.2953, after the ZEW economic sentiment index in Germany, Euro-zone’s biggest economy, dropped lesser than expected to 6.9 this month.

Meanwhile, the Euro-zone’s economic sentiment further deteriorated to 14.2 in September, lower than market expectations of a drop to a level of 21.3. In the US, the producer price index registered a rise of 1.8%, on an annual basis, in August, in line with market expectations and compared to a rise of 1.7% in the prior month.

The pair is expected to find support at 1.2919, and a fall through could take it to the next support level of 1.2883. The pair is expected to find its first resistance at 1.2993, and a rise through could take it to the next resistance level of 1.3031. Trading trends in the Euro today are expected to be determined by the Euro-zone’s CPI data, scheduled in a few hours. Meanwhile, investors would keep a close eye on inflation data from the US before the Fed’s interest rate decision, scheduled later in the day.
GBP USD
the GBP rose 0.17% against the USD and closed at 1.6257, after the consumer prices in the UK rebounded strongly in August and registered a rise of 0.4%.

Additionally, the DCLG house price index in the nation rose to a 7-year high, increasing 11.7% on an annual basis in July, beating market expectations for a gain of 10.6%.

The pair is expected to find support at 1.6178, and a fall through could take it to the next support level of 1.6094. The pair is expected to find its first resistance at 1.6329, and a rise through could take it to the next resistance level of 1.6396. Investors would keenly await BoE’s minutes of the latest policy meeting as well as voting pattern of the MPC members, scheduled in a few hours.
USD/JPY
The USD traded marginally higher against the JPY and closed at 107.17.

The BoJ Governor, Haruhiko Kuroda, indicated that the Japanese economy continues to recover moderately and further added that central bank will continue with its quantitative and qualitative easing measures to attend the price stability target of 2.0% as expected.

Former Ministry of Finance official, Eisuke Sakakibara, commented that the Japanese Yen will fall, as wages lag behind inflation on account of higher import costs. The pair is expected to find support at 106.88, and a fall through could take it to the next support level of 106.57. The pair is expected to find its first resistance at 107.42, and a rise through could take it to the next resistance level of 107.66.
USD/CHF
The USD declined 0.27% against the CHF and closed at 0.9331.

The pair is expected to find support at 0.9297, and a fall through could take it to the next support level of 0.9266. The pair is expected to find its first resistance at 0.9362, and a rise through could take it to the next resistance level of 0.9396. Trading trends in the Swiss Franc today would be determined by the ZEW survey data, scheduled in a few hours.