USD/CHF Under Pressure As Forex Market Awaits Fed Decision

As the market awaits the Fed decision this afternoon, the dollar has been under pressure against most currency pairs. The USDCHF is no exception. The price has declined below the 100 hour MA at the 1.0231 level and next looks toward the 200 hour MA at the 1.0197 level.  The price also remains below the 100 and 200 bar moving average on the 5 minute chart at the 1.0242 and 1.0252 levels respectively.  Watch these levels on the upside this morning.

The market may continue to be volatile/range bound as it awaits the Fed decision.  There is also key events and data over the next few days with the BOE and ECB Rate decision and the NFP report on Friday looming.  All have the potential to move the market.

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Comment by ComethMoney

2009-11-05 18:35:43

The BOE is really something to look out for, I think. A Barrel Of Oil isn’t always going to predictable, as we all well know. The European Central Bank is something I may look into. In ending, thanks for the information.

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