Next cue from US durable goods, home sales

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Next cue from US durable goods, home sales

By Grace Cheng on September 26, 2006 | More Posts By Grace Cheng | Author's Website

The US dollar found support from the better than expected Consumer Confidence survey, which rebounded strongly this month. The index rose to 104.5 compared with the upward-revised 100.2 (had been 99.6) seen in August. Following yesterday’s bullish hammer candle, USD/CHF has proceeded on an upward advance today. If USD/CHF can stage a sustained breakout past 1.2460, next target should be around 1.2500, then 1.2550. With..

the euro being pressured on the downside right now due to negative German comments about China’s moving of assets into euro, USD seems likely to retain the upside momentum for now

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