Business-Insider

The move today looked very technical. The precise bounce away from resistance looked like a sentiment-driven move. I have seen a lot of buzz today about risk aversion and bad news from the US's ISM numbers but the move preceded that and the fact that yields held steady makes me feel like waiting for Thursday's data before reversing any of my longer term positions.

Relative to yields, I am still looking for a potential bounce in that market that looks even more likely after today's durability. Add to that the fact that the Treasury will be offering $70billion in new bills on Thursday and the index may begin to really move to the upside. This matters to forex traders because of the potential for the USD/CHF to mirror that move. The In today's video we will look at the break today and identify the new/old support and resistance levels we should be looking for.

To see the video, click here: http://www.pfxglobal.com/index.php?o...096&Itemid=149
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