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Andreas Zanin
Analysis | September 17, 2020

KTM FX Daily: Focus on USD pairs

G10 FX: Our critical take-away from the Fed was buying EUR on dip against the dollar.

EM FX: We focus on CNH and ZAR. When writing this article, the dollar is trading higher across the board (EM and G10). ZAR down 0.6%, NOK by 0.50%, MXN by 0.35%. In G10 currencies, antipodeans lost 0.30% each, and the Euro further lost 0.40%.

USD pairs: USDSGD, USDCAD, and USDCHF, traced out a double bottom pattern. Risk reward favors on USDCHF and USDSGD.

USDSGD: Manages to hold the parallel support at 1.3560 in Thursday’s Asia session. A decisive break down below could retrace further towards 1.3450. Flipside, as long as 1.3560 supports, watch out for 1.3720.

USDCAD: Double bottom placed at 1.3120. As long as 1.3120 supports, watch out for 1.3250.


USDCHF: 0.9050 is offering solid support. Watch out for 0.9180-0.9200 if the price moves higher.

 It is important to always keep in mind the risks involved in trading with leveraged instruments.

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