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15 Mar 2013
Forex: USD/CHF testing support at 0.9461/65
FXstreet.com (Barcelona) - The USD/CHF fall has continued Friday, after the massive drop yesterday that took the pair below the 0.9500 level. European trading has also yielded a decline for the pair, and on the heels of Swiss data recently, the pair is now trading near calculated support at 0.9461/65, down -0.09%.
“The possibilities of the USD/CHF extending an upside move are still valid and are supported by stability above the 0.9375 level. Today, we prefer to see the pair hold above 0.9425 to cancel the negative technical formation supported by linear regression indicators.” writes the ICN.com Technical Analyst Team.
ICN.com analysts point to supports at 0.9465, ahead of 0.9425, and finally 0.9400. On the ascension, resistive measures will be implemented at 0.9495, ahead of 0.9515, and finally 0.9570.
In Switzerland, the Producer and Import Prices (MoM) grew +0.1% in the month of February, missing expectations of +0.3% growth. Moreover, the Producer and Import Prices (YoY) has also climbed +1.0% in February, compared with a figure of +0.8% in the previous month.
“The possibilities of the USD/CHF extending an upside move are still valid and are supported by stability above the 0.9375 level. Today, we prefer to see the pair hold above 0.9425 to cancel the negative technical formation supported by linear regression indicators.” writes the ICN.com Technical Analyst Team.
ICN.com analysts point to supports at 0.9465, ahead of 0.9425, and finally 0.9400. On the ascension, resistive measures will be implemented at 0.9495, ahead of 0.9515, and finally 0.9570.
In Switzerland, the Producer and Import Prices (MoM) grew +0.1% in the month of February, missing expectations of +0.3% growth. Moreover, the Producer and Import Prices (YoY) has also climbed +1.0% in February, compared with a figure of +0.8% in the previous month.