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1 Apr 2013
Forex: USD/CHF eases from highs back towards 0.9500
FXstreet.com (Barcelona) - On escalating fears of Cyprus, the greenback pushed higher earlier in the day and affected the USD/CHF to reach as high as 0.9527. Throughout the rest of the Asian session and now, ahead of the European shift, the pair retracing part of the gains, working its way to test the 0.9500 mark.
Most European countries are off the clock to celebrate Easter Monday, so a period of extreme low volume is expected. The economic calendar is empty apart from the release of Greek manufacturing PMI data by Markit.
On the upside, the area at 0.9548/53 has been keeping the market from further gains. Thursday’s low at 0.9466 may act as support against the downside.
Most European countries are off the clock to celebrate Easter Monday, so a period of extreme low volume is expected. The economic calendar is empty apart from the release of Greek manufacturing PMI data by Markit.
On the upside, the area at 0.9548/53 has been keeping the market from further gains. Thursday’s low at 0.9466 may act as support against the downside.