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| Action Insight Weekly Report | Markets Snapshot |
Dollar Rebounded Further and Facing Key Near Term ResistanceDollar rebounded further last week with the support from renewed concern on the Eurozone debt crisis as well as strength in US treasury yields. Egypt's situation was a factor in driving safe haven flow to the dollar too but that should be resolved as Hosni Mubarak stepped down as president of Egypt and handed power to the military. The resignation ended Mubarak's 30-year rule and protests in Egypt over the past 3 weeks. One important development to note was indeed the extended weakness in Swissy and Yen, in the supposed risk-aversion environment, which might be a signal that investors are returning to carry trades on future interest rates expectations. |    |
| Featured Technical Report | |
USD/CHF Weekly OutlookUSD/CHF's rise from 0.9329 extended further last week and is back pressing 0.9782 resistance. As noted before, rebound from 0.9300 should be resuming. Initial bias remains on the upside this week and sustained break of 0.9782 will pave the way towards 1.0065 key resistance next. On the downside, below 0.9678 minor support will turn bias neutral and bring retreat. But downside should be contained above 0.9523 support and bring another rally. |
| Suggested Readings | |
The Week in Review and Preview |
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