kiriss5678 Posted May 22, 2013 Report Share Posted May 22, 2013 (edited) COZforex: The US dollar edged higher against the Swiss franc in quiet trade on Tuesday,but gains were expected to remain limited as markets were jittery ahead of comments by Federal Reserve Chairman Ben Bernanke on Wednesday. USD/CHF hit 0.9704 amid European morning trade, the session high; the pair subsequently consolidated at 0.9679, adding 0.10%. COZforex foreign currency senior currency strategist, Paul Chew said, the pair is predicted to find support at 0.9642, and a drop through could take it to the next support line of 0.9609. Meanwhile, the pair is predicted to find its first resistance at 0.9712, and a rose through could take it to the next resistance line of 0.9749. Investors remained cautious ahead of Bernanke’s testimony at the US Joint Economic Committee and the minutes of the Fed’s most recent policy meeting, both due Wednesday. Markets were awaiting any indication that the US central bank will begin to scale back its asset purchase program this year after recent economic data bolstered optimism over the economic recovery. The Swissie was also steady against the euro with EUR/CHF inching 0.04% higher, to hit 1.2464. (COZ forex UK) Edited May 22, 2013 by kiriss5678 Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.