Daily FX Wrap Up

The US Dollar gained a bit from yesterday’s recent lows. If you are looking at price action, ranges were still intact, but momentum on the Dollar seemed to strengthen. For the EURUSD pair, a brief move above the 1.32 figure marked a 20-month high, before sinking over 85 points in what might be profit- taking. Currently, the EUR/USD pair is trading at 1.3150.

Flying over the Pacific, the Japanese Yen moved less dramatically in the Asian session, hitting a low around 115.60. This began a rally up to116.50, before another test of the resistance fended off a further run. Looking East, the USD/CHF made a double bottom and produced a 100-point rally to 1.2110. Currently, the Swiss Franc is trading at 1.2099 verses the US Dollar. XPRESSTRADE Analyst David Hilgeman