Forex: USD/CHF spikes during ECB Press Conference
Forex pairs in this Article »
USD/CHF
FXstreet.com (Barcelona) - USDCHF has spiked off its daily low to post a daily high during the ECB Press Conference.
The pair initially posted a low at 0.9255 following the ECB Policy Statement which slashed growth forecasts into 2013 and generally cast a dim light on economic prospects looking forward. However, during the subsequent Press Conference questioning over the prospect of a rate cut saw Draghi concede that there had been widespread discussion but that the decision taken had been unanimous. Since USDCHF rallied to post a high where it is currently trading at 0.9295, just above classic R1 resistance at 0.9293.
The pair initially posted a low at 0.9255 following the ECB Policy Statement which slashed growth forecasts into 2013 and generally cast a dim light on economic prospects looking forward. However, during the subsequent Press Conference questioning over the prospect of a rate cut saw Draghi concede that there had been widespread discussion but that the decision taken had been unanimous. Since USDCHF rallied to post a high where it is currently trading at 0.9295, just above classic R1 resistance at 0.9293.
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