Forex: USD/CHF looking at 0.9200 door
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USD/CHF
FXstreet.com (Barcelona) - Yesterday's upmove was capped by the 0.9200 mark, where it has found resistance and pulled the USDCHF down to 0.9175 area. The market is currently down by -0.08% on the day as investors await Switzerland Real Retail Sales.
Earlier, German trade data came out with wider than expected surplus (¬16.8B vs ¬14.8B consensus) and current account (¬17.3B vs ¬17.0B consensus). December (MoM) exports (+0.3% vs +1.3% consensus) and imports (-1.3% vs -1.4% consensus) disappointed.
"Intraday rallies are likely to now find that 0.9206/18 offers nearby resistance (minor Fibonacci retracement and 55 day ma) and we may see a slight pull back from here", wrote Commerzbank analyst Karen Jones, pointing to the clearing of 0.9390 to negate the longer term negative bias.
Earlier, German trade data came out with wider than expected surplus (¬16.8B vs ¬14.8B consensus) and current account (¬17.3B vs ¬17.0B consensus). December (MoM) exports (+0.3% vs +1.3% consensus) and imports (-1.3% vs -1.4% consensus) disappointed.
"Intraday rallies are likely to now find that 0.9206/18 offers nearby resistance (minor Fibonacci retracement and 55 day ma) and we may see a slight pull back from here", wrote Commerzbank analyst Karen Jones, pointing to the clearing of 0.9390 to negate the longer term negative bias.
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