Saturday, May 31, 2008

Forex Trading: USDCHF approaches key support

After 3 days of trading higher, the USDCHF has sold off today as the dollar softened. The pair is approaching support at the 1.0403-1.0408 level. This area corresponds to the 38.2% retracement level (1.0408) and the 100 hour MA (1.0403).

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GFT: Daily Market Commentary

The dollar rallied on Wednesday as well versus all majors but cable, in part because of a better than expected durable goods orders report. But the crude oil made an aggressive recovery. The US currency should only consolidate today. ...

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