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Forex: USD/CHF hits 0.9300 ahead of US labor market

By FXstreet.com,  January 04, 2013, 07:52:00 AM EDT

FXstreet.com (Barcelona) - The greenback has been growing strong as the fiscal cliff issued got resolved. After some corrective movements down to 0.9265 low at late Asian session, the USD/CHF jumped and kept climbing the chart until reaching the 0.9300 psychological level and printing its current daily high three pips above.

The US labor market will be the star of the day, with the nonfarm payrolls report being closely eyed after yesterday's December FOMC meeting minutes. The Fed may want to end QE by late 2013, according analysts interpretation of the minutes. The labor market is seen as very important to decide on policies to take.

"Other resistances can be found at 0.9328 (12/12/2012 high) and 0.9383 (07/12/2012 high)", wrote MIG Bank analyst Bijoy Kar, pointing to hourly supports at 0.9214 (intraday low) and 0.9174 (03/01/2013 low).




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

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