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FxWirePro: USD/CHF trades higher on better than expected ADP jobs data, good to buy on dips

  • USD/CHF jumped more than 50 pips from the yesterday low of 0.98552 after positive U.S economic data. US ADP employment came at 190K in Nov compared to forecast of 186K and manufacturing sector added 40000 jobs highest in 15 years. The pair hits high of 0.99098 yesterday and is currently trading around 0.99104.
     
  • Technically pair is trading well above short term (20- day MA and 50 –day MA) and long term (100 and 200 day) MA. The near term resistance is around 0.9945 and any break above will take the pair to next level till 1.000/1.00380.
     
  • On the lower side, near term support is around 0.9854 (50- day MA) and any break below will drag the pair to next level till 0.9805 (200- day EMA)/0.9770. it should break below 0.9705 for further weakness.

It is good to buy on dips around 0.9895 with SL around 0.9850 for the TP of 1.000/1.0038.

 

 

 

 

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December 11 09:00 UTC Released

ITRetail Sales NSA YY

Actual

-2.1 %

Forecast

Previous

3.4 %

December 11 09:00 UTC Released

ITRetail Sales SA MM

Actual

-1 %

Forecast

Previous

0.9 %

December 11 11:30 UTC 124124m

TREndYear CPI Fcst/Cb Svy*

Actual

Forecast

Previous

10.68 %

December 11 15:00 UTC 334334m

USEmployment Trends*

Actual

Forecast

Previous

135.6 tln

December 11 15:00 UTC 334334m

USJOLTS Job Openings*

Actual

Forecast

Previous

6.093 Mln

December 11 21:00 UTC 694694m

KRExport Price Growth YY*

Actual

Forecast

Previous

8 %

December 11 21:00 UTC 694694m

KRImport Price Growth YY*

Actual

Forecast

Previous

6.8 %

December 11 23:50 UTC 864864m

JPCorp Goods Price MM*

Actual

Forecast

Previous

0.3 %

December 11 23:50 UTC 864864m

JPCorp Goods Price YY*

Actual

Forecast

Previous

3.4 %

December 12 00:30 UTC 904904m

AUNAB Business Conditions

Actual

Forecast

Previous

21 Bln TRY

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