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20 Mar 2013
Forex: USD/CHF drop supported by 0.9450
FXstreet.com (Barcelona) - After retesting resistance at 0.9480 on the European opening, the USD/CHF eased across the chart to 0.9450 low. The pair still trades below the opening price (0.9468), quoting close to 0.9460 (-0.10% on the day).
Expectations in Switzerland eased from 10 to 2.3 in March, according to the ZEW report. EMU current account surplus eased from €16.0B to €14.8B in January, higher than €7.9B consensus. Germany sold 10-year bonds at today’s auction and saw its average yield falling 1.66% to 1.36%.
“The USD/CHF currency pair formed a correction towards the previous descending wave”, wrote Ro-boforex.com analyst Igor Sayadov. “We think today the price may continue growing up towards the target at 0.9500 and then start a new descending wave to reach the level of 0.9300”, he added.
Expectations in Switzerland eased from 10 to 2.3 in March, according to the ZEW report. EMU current account surplus eased from €16.0B to €14.8B in January, higher than €7.9B consensus. Germany sold 10-year bonds at today’s auction and saw its average yield falling 1.66% to 1.36%.
“The USD/CHF currency pair formed a correction towards the previous descending wave”, wrote Ro-boforex.com analyst Igor Sayadov. “We think today the price may continue growing up towards the target at 0.9500 and then start a new descending wave to reach the level of 0.9300”, he added.