Forex: USD/CHF downside limited at 0.9130
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USD/CHF
FXstreet.com (Barcelona) - The USDCHF dowside looks limited to 0.9130 for now, but the market bounce was unable to keep the price far from those lows despite trading higher on the day. The daily high was printed at 0.9148, and the pair trades at 0.9140 after German and Switzerland data.
Both annualized German Producer Price Index and Import Price Index figures eased less than expected, to +1.4% and +1.1%, respectively. The market seems capped at these levels. In Switzerland, exports rose from 18.63B to 18.775B in November, while imports eased from 15.898B to 15.83B.
Failure to close below the 0.9104 (61.8% retracement of the move seen this year.) allows for a small correction higher near term to 0.9188 then 0.9215/40 "where we would expect the rally to peter out (these are lows from September and October)", said Commerzbank analyst Karen Jones.
Both annualized German Producer Price Index and Import Price Index figures eased less than expected, to +1.4% and +1.1%, respectively. The market seems capped at these levels. In Switzerland, exports rose from 18.63B to 18.775B in November, while imports eased from 15.898B to 15.83B.
Failure to close below the 0.9104 (61.8% retracement of the move seen this year.) allows for a small correction higher near term to 0.9188 then 0.9215/40 "where we would expect the rally to peter out (these are lows from September and October)", said Commerzbank analyst Karen Jones.
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