Forex: USD/CHF retracing November gains

FXstreet.com (Barcelona) - The USDCHF is pushing further down, falling across the chart and printing a low at 0.9338 on the European afternoon (US markets are closed for Thanksgiving) that triggered profit taking back to 0.9355/60 zone. The pair is weakening again now after the release of a disappointing consumer sentiment report in the Eurozone.

The preliminary release of November Consumer Confidence in the EMU dropped from -25.7 (revised from -25.6) to the lowest value since May 2009, -26.9. Analysts were expecting the figure to stay at -25.7.

While German finance minister Schaeuble is against a public sector haircut of Greek debt, as it would mean to no more money for Greece, ECB's Asmussen challenges whoever is against such haircut to be prepared to move on other issues...

The USDCHF is closer to fully retrace November's gains as it approaches the monthly opening of 0.9315. "The downside remains in focus, as the price dips below Fib 61.8% of 0.9275/0.9511 rally, hitting fresh low at 0.9356 so far. Immediate downside targets lie at 0.9340 and 0.9300, ahead of 0.9275, 31 Oct higher low", wrote Windsor Brokers analyst Slobodan Drvenica, pointing to 0.9400/30 as resistance and are expected to cap for now.