The USD/CHF pair broke down of its Asian session consolidation phase and slipped back below the parity mark, closer to weekly lows.
The pair have extended slide down slightly due to the CPI US leadership from the new peak in a year and deals with a negative trend for the second session in a row on Friday amid weakness of the dollar
Trends regressive continuity in yield on US Treasuries, amid prospects for the faint of rising interest rates the Fed faster, prompting traders to continue to disburse bet dollars their long and is considered important
However, the retreat can still be classified as an adjustment in natural, especially after protests incessantly over 500 pips from the pair's lowest level in April. Therefore, it would be prudent to wait a period when strong sales before confirming that the pair may be headed in the near term.
On the economic data front, the only scheduled release of Prelim UoM Consumer Sentiment index from the US might produce some short-term trading opportunities during the early NA session.
Technical Analysis:
Immediate support is pegged near 0.9975 level, which if broken could accelerate the corrective slide further towards 0.9940 level en-route the 0.9925-15 support. On the upside, the 1.0030-40 region might continue to act as an immediate strong hurdle, above which the pair is likely to aim towards reclaiming the 1.0150 handle.
0 Comments