Forex: USD/CHF trading at support near 0.9045

FXstreet.com (Barcelona) - The USDCHF has waned below the 0.9100 level following the release of European data Friday as the pair refuses to shake its sinking exchange. Ahead of an afternoon that looks to be dominated by American payrolls, the cross has recently crashed towards the 0.9046/47 mark after the release of upbeat data in the EMU, down -0.61%

Earlier today in Switzerland, the SVME - Purchasing Managers Index (January) came in at 52.5, against expectations calling for only 50.5. Meanwhile in the EMU, the Consumer Price Index (YoY) has given a result of +2.0% in January, against projections of +2.2%. Finally, the Unemployment Rate (December) was reported at 11.7%, slightly beating estimates of 11.9%.

After breaking through calculated support at 0.9080, the ICN.com Analyst Team, points to supports reinforcing the USDCHF at 0.9045, and 0.9000. Conversely, a prolonged movement above the 0.9100 handle will trigger resistance at 0.9155 and 0.9200.

According to the ICN.com Analysts, "We cannot confirm the return of the upside move in light of extending negativity on the linear regression indicators, while the downside move must confirm breaking 0.9080 level with a daily closing. Therefore, we prefer to remain neutral waiting for confirmations."