Forex: USD/CHF flat in narrow trade

The USD/CHF is trading under a very narrow range and has got back to its opening price, around 0.9234. Yesterday, the pair closed with a Doji daily candlestick, with a high at 0.9258 and a low at 0.9210.

After the European opening, the economic calendar will provide updates of EMU construction output data, followed by German and EMU ZEW survey.

"The market needs to clear 0.9390 on a closing basis to restore an upside bias longer term. This resistance is reinforced by the 0.9352 55 week ma", wrote Commerzbank analyst Karen Jones. "Current price action has neutralised the outlook and dips lower should now find interim support at 0.9149/50", she added.

Feb 19, 2013

Forex: AUD/USD consolidating above 1.0300

The Australian dollar is navigating the upper end of today’s range so far, propped up by a less dovish tone from the RBA minutes. The central bank noted that previous rate cuts are starting to show their....

Forex Flash: EUR/USD keeps its eye on 1.3282 - Commerzbank

Yesterday's inside day left analysts' outlook unchanged, as attention remains on the 1.3282 3 month uptrend, with key near term support being 1.3282/56 (16th Jan low, the 61.8% retracement, the 55 day ma and the 3 month support line): "This is likely to hold the initial test – however the risks have increased that we will see an eventual break down through here towards the more important 1.3202 7 month uptrend and a close below here is required to negate the up move completely", wrote analyst Karen Jones. "Only a recovery above 1.3520 would neutralize the immediate outlook and potentially re-target the 1.3711 February high (not favored)", she added, pointing to initial resistance being the accelerated downtrend at 1.3441.