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25 Apr 2013
Forex: USD/CHF bouncing from 0.9450
FXstreet.com (Barcelona) - After going as high as 0.9499 yesterday, the market stabilized just below 0.9475, and from there, stops pulled the USD/CHF down to 0.9450. The pair is currently trading at 0.9462 (-0.08%).
Excluding today’s UK GDP data, the economic calendar is pretty empty with Spain unemployment data only. Portugal and Italy are on holiday.
“We target 0.9595/0.9609 January 2012 high and the 61.8% retracement of the move down from the 2012 peak, which is expected to act as the break point to the 200 week ma at 0.9650”, wrote Commerzbank analyst Karen Jones, pointing to longer term target at 0.9972, the 2012 peak.
Excluding today’s UK GDP data, the economic calendar is pretty empty with Spain unemployment data only. Portugal and Italy are on holiday.
“We target 0.9595/0.9609 January 2012 high and the 61.8% retracement of the move down from the 2012 peak, which is expected to act as the break point to the 200 week ma at 0.9650”, wrote Commerzbank analyst Karen Jones, pointing to longer term target at 0.9972, the 2012 peak.