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4 Feb 2013
Forex: USD/CHF at gains today
The range of the USD/CHF remains tight, but steadily, the market is moving higher, by +0.17% on the day. Having hit a low at 0.9076 (December low) on the Asian session, the pair is trading at 0.9094, daily highs.
Ahead are Spain's unemployment change, EMU Sentix Investor Confidence, EMU PPI, and Merkel-Rajoy meeting.
“USD/CHF has eroded the .9076 December low and dropped into new 10 month lows, it has yet to see a close below here and we may see some near term consolidation”, wrote Commerzbank analyst Karen Jones, also noting “the 13 count on the daily chart and this adds weight to the idea of some consolidation/rebound ahead of psychological support at 0.9000”. “Intraday rallies are likely to now find that 0.9110/65 offer nearby resistance (minor Fibonacci retracements)”, she concluded.
Ahead are Spain's unemployment change, EMU Sentix Investor Confidence, EMU PPI, and Merkel-Rajoy meeting.
“USD/CHF has eroded the .9076 December low and dropped into new 10 month lows, it has yet to see a close below here and we may see some near term consolidation”, wrote Commerzbank analyst Karen Jones, also noting “the 13 count on the daily chart and this adds weight to the idea of some consolidation/rebound ahead of psychological support at 0.9000”. “Intraday rallies are likely to now find that 0.9110/65 offer nearby resistance (minor Fibonacci retracements)”, she concluded.