Euro/US Dollar Actions Can Initiate Stronger Downside Swings

Euro/US Dollar, bears have made a incisive breakout by support level.

This movement can initiate stronger downside swings, however neutral situation is still valid for this pair.

Short term selling options are only available for now while candles stay below support level.

US Dollar/Swiss Franc Had Moved Higher Out Of Its Rest Zone

USD/CHF Current price: 1.0241

US Dollar Swiss franc Had Moved Higher Out Of Its Rest Zone.

We had a powerful upward move from the European close last night.

Moving averages are in order to buy (Blue / Red / Black) and apart from the RSI hitting the 66 mark, all oscillators are showing a bullish bias.

We have come up against some resistance at 1.0250 (showing two spikes) and need to clear that level to continue the ride up toward the top of the large channel (1.0326) A move below 1.0170 would negate that view.

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USD is Adding To Gains Against The JPY

The dollar is adding to gains against the yen and euro, but is only marginally higher against the U.K. pound, as some investors seek risk protection.

The dollar may receive an additional boost later today, especially against the yen, if the Chicago PMI for December, due 1445 GMT, comes in better than expected, traders said.

European stocks are expected to open slightly lower Wednesday, as investors look to take money off the table on the last full trading day of the decade.

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