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17 Apr 2013
Forex: USD/CHF still around 0.9226 after yesterday’s tumble
FXstreet.com (Barcelona) - Having failed to hold at the 0.9300 psychological support, the USD/CHF fell to 0.9208 low yesterday and is now trading in a very narrow range around the opening price of 0.9226.
ZEW will be publishing its survey on Expectations in Switzerland for the month of April. Market consensus suggests an improvement from 2.3 to 5.0. Afterwards, EMU construction output and the German 10-year bond auction results will be released.
“USD/CHF is struggling to overcome the 55 day moving average very near term at .9340. The market is eroding 0.9230, the 61.8% retracement and this leaves the downside exposed to 0.9140, the 78.6% retracement of the move up from February”, wrote Commerzbank analyst Karen Jones.
ZEW will be publishing its survey on Expectations in Switzerland for the month of April. Market consensus suggests an improvement from 2.3 to 5.0. Afterwards, EMU construction output and the German 10-year bond auction results will be released.
“USD/CHF is struggling to overcome the 55 day moving average very near term at .9340. The market is eroding 0.9230, the 61.8% retracement and this leaves the downside exposed to 0.9140, the 78.6% retracement of the move up from February”, wrote Commerzbank analyst Karen Jones.