Forex: USD/CHF eased to 0.9360, capped at 0.9389
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USD/CHF
FXstreet.com (Barcelona) - The market reached its high during Asian session, at 0.9389 high, after extending above the 0.9355 previous line of resistance. Until recently, the USDCHF has been trading sideways around 0.9370, showing now signs of easing to 0.9360.
The economic calendar is very light, mostly with Italy industrial orders data and UK retail sales.
"We look for further gains on the topside. Initial upside target is the 0.9434 200 day moving average and then 0.9513/25, the 50% retracement and November high"; wrote Commerzbank analyst Karen Jones, suspecting a basing market over the longer term.
The economic calendar is very light, mostly with Italy industrial orders data and UK retail sales.
"We look for further gains on the topside. Initial upside target is the 0.9434 200 day moving average and then 0.9513/25, the 50% retracement and November high"; wrote Commerzbank analyst Karen Jones, suspecting a basing market over the longer term.
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