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Filtrato dai tags:  Safe Haven Flows
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Swissie balances near parity level

Swissie has not been in focus lately, even though its moves were comparable to that of the euro. EUR/CHF has remained well offered ahead of the French election, suggesting some safe haven flows at work. That will likely intensify if Le Pen makes it to the second round.
USD/CHF has been coiling around parity level for months now as (geo)political concerns balance out positive carry. 200 DMA offers the initial support with stronger one between 0.98 and 0.985. 1.00 is the immediate resistance and t…
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Swiss franc gains with SNB on the sidelines

Yen has not been the only currency to benefit from safe haven flows recently. Swiss Franc has appreciated five cents so far this month with USD/CHF closing in the red in seven out of eight trading days. SNB seem to be sidelined for the moment but probably not for long.
In a sharp sell-off, the pair broke below December low (~0.98) before it stalled at the confluence of the declining 2003 - 2015 trendline and 200 DMA. Ascending 2011 - 2015 trendline is the next major target while the broken 0.98 …
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Carnage after a quiet start

Quiet start to the week turned into carnage soon after European session got underway, led by stock market falls. The selling continued in North American session and, after a small consolidation, overnight.
The greatest beneficiary of safe haven flows has unsurprisingly been the yen, while the euro and the franc have also benefited. Gold rose to the highest in eight months. Cable and commodity currencies lost to various degrees, not least as a consequence of cross pair selling.
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Cable keeps gaining

Cable has been incredibly resilient lately and some of that may also be attributed to the safe haven flows due to the ongoing uncertainty regarding Greece. It fell today on weaker than expected inflation report, but buyers were waiting in the dips and soon took the pair to new highs for the day, week and month.
Tomorrow is the FOMC day and the pair will likely remain in this upward grinding trading range at least until then. When it breaks, first stronger support may come in between 1.5450 and 1…
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