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Jan 28 - 02:55 AM

USD/CHF - Erases Spike Down Yesterday, Back Above 0.90

By Haruya Ida  —  Jan 28 - 01:43 AM

• USD/CHF plunged to 0.8967 EBS overnight as Wall St tech stocks plunged

• Haven flows were seen into US Treasuries, JPY and even CHF

• With CHF players very short, buy-back plays no doubt played a major part

• USD/CHF spike down in proved brief however, to 0.9030-58 range in Asia

• Fresh news on Trump tariffs no doubt struck a chord, fresh CHF shorts?

• Daily chart shows good bounce from area of ascending 55-DMA at 0.8971

• Retracement up capped ahead of 0.9057-68 hourly Ichimoku cloud

• 0.9044/53 55/100-HMAs pierced to upside in move up, 200-HMA 0.9082 above

• Despite the USD/CHF bounce, overall trend still looks to be down

• Related , , for more click on [FXBUZ]

USD/CHF:


USD/CHF hourly:


(Haruya Ida is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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