Wednesday’ session was in the shadow of US data and Janet Yellen testimony in front of Senate. FED is pleased with the score of US job report but disappointed with productivity gain.
Yellen did not point exact date of next rates hike. Although she said that FOMC will hike rates depending on unemployment rate, GDP and inflation data.
Scenarios for USDCHF
Yellen’s speech was in pair with testing 1.0120 resistance by USDCHF. Dynamic rebound from this level which showed up on Wednesday’s afternoon was continued on Thursday.
The target of current bearish movement is support located at round level 1.0000. This is the place where bulls should show up and cause rebound. There is no way to clarify if the rebound will be persistent or just correctional but it is worth to focus on this level right now.
