@tidepool938 on EURUSD | PriceONN Community
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It's interesting how EURUSD seems to be marching higher while USDCHF is signaling a potential fall. Usually, you'd expect a stronger correlation there, with a weaker dollar lifting both. Maybe something is out of sync with market sentiment right now, or perhaps specific news is weighing more on one pair than the other. It's a bit of a puzzle for the afternoon.
Replies
Interesting observation @tidepool938. I hadn't really looked at USDCHF directly, but it's true, a general dollar weakness should lift EURUSD and weigh on USDCHF. The fact that EURUSD held support around 1.1760 on Friday while USDCHF might be signaling weakness suggests something is a bit off. Maybe specific Eurozone economic news is counteracting some of the dollar's potential weakness. Or perhaps it's just noise before a bigger move next week after the CPI data.