Morning Insights 17th February

Simon Alagbe

Analyst


Instrument: USDCHF

The pair has been directionless oscillating in a range for some days now as the Russian-Ukraine debacle supported the safe-haven CHF but the gains have been limited as increased in demand for the USD lend support to the greenback. Market participants looks forward to the crucial economic data from the US later today for bias on the pair as the higher focus is on the geopolitical developments. 


Technicals:

The instrument broke below a key support level earlier today and a retest around the 0.92233 support  (turned resistance) is expected before the continuation of a move to the downside with take profit at 0.91953 and stop loss at 0.92333.


Fundamentals

Philly Fed Manufacturing Index  (US) 2:30PM

Unemployment Claims  (US)   2:30 PM

FOMC Member Bullard Speaks (US) 5:00 PM

FOMC Member Mester Speaks (US) 11:00 PM


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