IMPACT ON THE USD-
The unexpected decision of Greek government strongly impacted on the USD on a negative side. Investors are expecting a possible victory for the opposition party that wants to modify the bailout.
UPCOMING EVENTS-
Now, the focus has shifted to the tomorrow’s key economic events on the USD and CHF as well.
USD economic events-
Core retail sales, retail sales, and unemployment claims.
CHF economic events-
SNB press conference and monetary policy assessment.
TECHNCIAL VIEW
The pair was sold-off on the previous day, but managed to hold the parallel support at 0.9649. The pair managed to erase half of its intraday losses. The pair has the nearest strong support at 0.9642. In case if the pair closes below 0.9640, only then we can turn to the bearish side with the targets at 0.9615 and 0.9600. Until the prices close above 0.9600, we are expecting buying on the dips. We recommend intraday buying above 0.9725 with the targets at 0.9750. Besides, we recommend selling below 0.9690 with the targets at 0.9650 and 0.9620. The hourly and intraday momentum oscillators are indicating a mixed bag. The hourly resistance exists at 0.9725 and 0.9755 levels. We can see strong momentum above 0.9755 levels.
0 The material has been provided by InstaForex Company - www.instaforex.com