The dollar weakness this morning has caused a sharp move lower in Dollar/Swiss and a move higher in Euro/Dollar.
However Dollar/Swiss is stalling at key support at 0.8775 and looks to be consolidating the move after a 35 pip fall this morning. I think this is a chance to take a nice profit on my short position ahead of a heavy week of US economic data.
A similar picture for Euro/Dollar which has struggled to hold on to gains for very long before a reversal has set in in recent days. I have looked to use this 40 pip gain this morning as a chance to lock in a profit as the rate is now into the resistance band $1.3865/$1.3880. I am also mindful of a head week of US data.
I closed my USD/CHF short at 0.87862 for 45 a pip profit.
I closed my EUR/USD long at $1.38702 for a 51 pip profit.
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