Forex: USD/CHF above 0.9325 after Switzerland Industrial Production
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USD/CHF
FXstreet.com (Barcelona) - With the daily high of 0.9389 printed on early Friday trading and a consequent retracement to just above the 0.9300 psychological, Monday trading has been moving within a range between 0.9325 and 0.9350.
Disappointing market consensus, with a forecast rise to 2.0% from -1.6% (revised from -1.1%), actual Industrial Production data in Switzerland fell to -0.7% in Q3 (YoY). The USDCHF is currently trading at the lower side of the range, around 0.9325.
"Initial upside target is the 0.9435 (200 day moving average) and then 0.9513/25 (the 50% retracement and November high)", wrote analyst Karen Jones, allowing for some minor slippage to 0.9240 and suspecting a basing market on the slightly longer term.
Disappointing market consensus, with a forecast rise to 2.0% from -1.6% (revised from -1.1%), actual Industrial Production data in Switzerland fell to -0.7% in Q3 (YoY). The USDCHF is currently trading at the lower side of the range, around 0.9325.
"Initial upside target is the 0.9435 (200 day moving average) and then 0.9513/25 (the 50% retracement and November high)", wrote analyst Karen Jones, allowing for some minor slippage to 0.9240 and suspecting a basing market on the slightly longer term.
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