Dollar Versus Franc and Euro December 21st

FX Strategy Video > Currency Pairs Analysis

USD/CHF fell on Tuesday as the "risk on" trade came back into vogue. This happens every few days, and this rally in risk assets will more than likely be yet another volatile move. The pair fell to the 0.93 level, an area that we saw as resistance in the past at a breakout. This daily candle looks a bit like a hammer as well, and a break above the Tuesday high would have us buying.

EUR/USD rose quite a bit for the session, but gave up gains at the 1.31 level. This shows just how much trouble the Euro is in, as the "risk on" session continued all the way to the close of US stock exchanges. The fact that the Euro can't hold gains should be a warning. However, the 1.30 to 1.29 level should be a massive support zone that will be difficult to overcome.

Published on 20th of December 2011
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