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7 Feb 2013
Forex: USD/CHF rises above 0.9100
Around 07:00 GMT, the USD/CHF quickly rose above the 0.9100 and reached 0.9110, where it stands as of writing.
The Swiss SECO consumer climate was published and points to improvement from -17 to -6 in Q4 (3m), beating consensus of -11. Ahead, the SNB will reveal figures of Foreign Currency Reserves in January.
Commerzbank analyst Karen Jones is bearish on the USD/CHF, but expects a near term correction higher: “Intraday rallies are likely to now find that 0.9165/.9206 offers nearby resistance (minor Fibonacci retracement)”, she said, waiting to see a close below the January low of 0.9076.
The Swiss SECO consumer climate was published and points to improvement from -17 to -6 in Q4 (3m), beating consensus of -11. Ahead, the SNB will reveal figures of Foreign Currency Reserves in January.
Commerzbank analyst Karen Jones is bearish on the USD/CHF, but expects a near term correction higher: “Intraday rallies are likely to now find that 0.9165/.9206 offers nearby resistance (minor Fibonacci retracement)”, she said, waiting to see a close below the January low of 0.9076.