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Forex: USD/CHF prints fresh 2012 highs, NY closing bell ahead

By FXstreet.com,  July 11, 2012, 03:06:00 PM EDT

FXstreet.com (San Francisco) - The USD/CHF jumped to fresh 2012 highs late Wednesday on a broadly bid U.S. dollar after the Minutes from the Federal Reserve's last policy meeting failed to signal QE3 is coming any time soon.

Bond prices are inching lower, stocks on Wall Street have fallen, Gold futures have ended lower and, Crude-oil futures managed to end higher, supported by a larger-than-expected decline in crude inventories.

USD/CHF climbed to as high as 0.9830, a price not seen since 13 Dec 2010. The pairing is last quoted at 0.9820 ahead of the closing bell in New York from 0.9802 at late Tuesday. If the rally continues, key Fibonacci resistance lies at 0.9930 (61.8, 1.1729/0.7064), while the downside now offers immediate support at 0.9770 (1 June high), then at 0.9677 (28 June 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

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