FXStreet (Barcelona) – FXStreet Editor and Analyst, Omkar Godbole, sees downside potential for USD/CHF towards 0.9240 on a dovish FOMC outcome.
Key Quotes
“With no signs of Greece deal, EUR/CHF sell-off could continue. A Dovish FOMC would only add fuel to the CHF rally and lead to a drop in the USD/CHF pair. In light of the threat of a Greek default accompanied by a dovish FOMC, CHF could turn out to be the biggest gainer against the USD and Euro.”
USD/CHF – Downtrend intact, further weakness below 0.9240
“The daily chart shows strong support at 0.9240 (50% Fib R of 0.8352-1.0128). The spot witnessed minor bounce from the same on couple of occasions since last week.”
“The downtrend is intact as shown by falling trend line. A break below 0.9240 opens doors for 0.9071 (May 7 low) and 0.9031 (61.8% Fib R of 0.8352-1.0128).”
“Weekly 50-MA currently at 0.9178 could act as immediate support.”
(Market News Provided by FXstreet)