Markets Start Quiet, But SNB and Some Key Data Lie Ahead
Action Insight Daily Report 3-21-22

Markets Start Quiet, But SNB and Some Key Data Lie Ahead

The markets are generally quiet in Asian session today. Dollar is mildly firmer together with Canadian. Sterling and Swiss Franc are soft. But major pairs and crosses are stuck inside Friday's range. Asian stocks are mixed, with Japan on Holiday, while others tread water. Gold is consolidating in tight range too. Crude oil is the more lively one, extending near term rebound. Markets could stay quiet with a very light calendar today. But volatility is expected with some important data featured later in the week.

Technically, Euro has turned weaker late last week against commodity currencies. The question is whether such weakness would spread to other pairs. Attention will be on 1.0899 minor support in EUR/USD, 0.8358 minor support in EUR/GBP, and 1.0184 minor support in EUR/CHF. Break of these levels together will signal return of Euro selloff.

In Asia, at the time of writing, Hong Kong HSI is down -0.08%. China Shanghai SSE is up 0.02%. Singapore Strait Times is up 0.18%. Japan is on holiday.

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Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9295; (P) 0.9338; (R1) 0.9363; More....

Intraday bias in USD/CHF is mildly on the downside at this point. Pull back from 0.9459 short term top is on track to 55 day EMA (now at 0.9248). On the upside, above 0.9381 minor resistance will flip bias back to the upside. Firm break of 0.9471 will resume the rise from 0.8756 to 61.8% projection of 0.8756 to 0.9471 from 0.9090 at 0.9532.

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EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD

EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY

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