Forex: USD/CHF easing after retesting resistance at 0.9350
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USD/CHF
FXstreet.com (Barcelona) - After posting a high at 0.9355 early in the European morning on Swissy depreciation, the USDCHF came back to the 0.9300 psychological level before rallying again on the US jobless and housing data. The pair retested resistance at 0.9350 area and has been easing since then, currently at 0.9330.
The SNB reported expectations of CHF 6B in net profit during 2012. Switzerland Producer and Import prices rose 0.1% (MoM) in December, instead of being unchanged as expected, which strengthened the annualized figure more than expected, now only easing from 1.2% to 1.0%, instead of 0.8% consensus.
"A key resistance is at 0.9383. Hourly supports can be found at 0.9286 (16/01/2013 low) and 0.9218 (15/01/2013 low)", wrote MIG Bank analyst Bijoy Kar, expecting a medium-term decline towards the key support at 0.8931 (24/02/2012 low).
The SNB reported expectations of CHF 6B in net profit during 2012. Switzerland Producer and Import prices rose 0.1% (MoM) in December, instead of being unchanged as expected, which strengthened the annualized figure more than expected, now only easing from 1.2% to 1.0%, instead of 0.8% consensus.
"A key resistance is at 0.9383. Hourly supports can be found at 0.9286 (16/01/2013 low) and 0.9218 (15/01/2013 low)", wrote MIG Bank analyst Bijoy Kar, expecting a medium-term decline towards the key support at 0.8931 (24/02/2012 low).
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