Swiss Franc Extending Rally, Yen Softens as Yields Recover
Action Insight Mid-Day Report 6-24-22

Swiss Franc Extending Rally, Yen Softens as Yields Recover

Swiss Franc is staying as the strongest one for today while markets are rather quiet elsewhere. Yen turns slightly weaker and US and European yields recover. But Dollar is also weak on overall steady sentiment. As for the week, however, Aussie and Kiwi are the worst performers, followed by Yen and Dollar. Swiss Franc and Sterling are the strongest ones.

Technically, CHF/JPY may be ready to resume recent up trend too. Focus is now on 141.86 temporary top. Break will confirm bullishness and target 100% projection of 127.48 to 137.77 from 134.00 at 144.29 next. Meanwhile, USD/CHF's pressing 0.9543 support. Strong support is expected there to complete the three wave consolidation from 1.0063, and bring rebound. But firm break of 0.9543 will bring deeper fall to 0.9459 resistance turned support.

In Europe, at the time of writing, FTSE is up 1.68%. DAX is up 0.81%. CAC is up 2.04%. Germany 10-year yield is up 0.043 at 1.471. Earlier in Asia, Nikkei rose 1.23%. Hong Kong HSI rose 2.09%. China Shanghai SSE rose 0.89%. Singapore Strait Times rose 0.61%. Japan 10-year JGB yield dropped -0.0015 to 0.234.

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

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9567; (P) 0.9629; (R1) 0.9676; More...

USD/CHF's fall from 1.0048 is seen as the third leg of the corrective pattern from 1.0063. Strong support should be seen at around 0.9543 to contain downside to bring rebound. On the upside, above 0.9731 minor resistance will turn bias back to the upside for retesting 1.0063 resistance. However, break of 0.9543 will bring deeper fall back to 0.9459 resistance turned support.

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EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD

EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY

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