Back
26 Feb 2013
Forex: USD/CHF back to 0.9300 area
Based on concerns over Italy, the USD/CHF moved back to the 0.9300 area, printing a high at 0.9339. The pair is again trying to breach resistance.
Switzerland employment level eased from 4.122M to 4.116M in Q4 (QoQ), but kept higher than the expected 4.107M.
"The market needs to clear 0.9390 on a closing basis to restore an upside bias longer term. This resistance is reinforced by the .9357 55 week ma", wrote Commerzbank analyst Karen Jones, pointing to 0.9513 (November 2012 high) in case of a move higher.
Switzerland employment level eased from 4.122M to 4.116M in Q4 (QoQ), but kept higher than the expected 4.107M.
"The market needs to clear 0.9390 on a closing basis to restore an upside bias longer term. This resistance is reinforced by the .9357 55 week ma", wrote Commerzbank analyst Karen Jones, pointing to 0.9513 (November 2012 high) in case of a move higher.