Forex: USD/CHF at 0.9265 ahead of SNB

By
A A A
Share |

FXstreet.com (Barcelona) - The market fell to as low as 0.9244 yesterday on Fed's policy and has been trading sideways around 0.9265 ever since. The SNB decision will be revealed soon, at 08:30 GMT, followed by a press conference. Producer and Import Prices in Switzerland will also be published, followed by Italy CPI figures.

Earlier, the the Swiss State Secretariat for Economic Affairs the Swiss Government cut its economic forecast for 2013 to 1.3% from the previously estimated 1.4%, maintaining its outlook of 2012 GDP growth at 1%. "Providing the sovereign debt crisis in the Euro region re-mains under control and the global economy gradually returns to a firmer foot-ing, the Swiss economy could regain momentum during the next two years", said the report.

UBS analysts are now bearish on the USD/CHF, pointing to critical support zone at 0.9241/15. "A breach of which would extend the bearish trend to 0.9041", wrote analyst Geoffrey Yu, adding resistance at 0.9328 ahead of 0.9383.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Forex and Currencies

Referenced Stocks:

FXstreet.com

FXstreet.com

More from FXstreet.com:

Related Videos

Stocks

Referenced

Most Active by Volume

89,970,926
  • $16.15 ▲ 0.12%
77,131,582
  • $58.94 ▼ 1.31%
67,336,935
  • $26.56 ▲ 1.68%
48,814,124
  • $86.20 ▲ 0.02%
47,526,126
  • $23.21 ▲ 0.78%
44,660,424
  • $23.91 ▲ 6.36%
38,799,699
  • $4.289 ▲ 4.36%
36,199,890
  • $40.01 ▼ 0.97%
As of 4/17/2014, 04:07 PM