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Forex: USD/CHF capped at 0.9199 on NY

By FXstreet.com,  January 14, 2013, 10:53:00 AM EDT

FXstreet.com (Barcelona) - The USD/CHF kept on rising throughout the day after confirming support at 0.9120 on the Asian shift. NY opening flows triggered a move to 0.9199 high, one pip short from the 0.9200 psychological level. Profit taking has been pulling the pair back down since then, having fallen to 0.9170 as of writing.

US President Obama is due to speak and investors will be eyeing the event, looking for some interesting headlines. Meanwhile, US equity markets trade lower on Monday. The S&P 500 has been struggling at September/October highs recently.

"Given the underlying trend, we favor a test of the support at 0.9084/0.9079 (02/01/2013 low)", wrote MIG Bank analyst Bijoy Kar, pointing to resistances at 0.9201 (08/01/2013 low) and 0.9303 (04/01/2013 high).




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:



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