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Forex: USD/CHF slide finds support above 0.9400

By FXstreet.com,  January 12, 2012, 05:47:00 PM EDT

FXstreet.com (San Francisco) - The Swiss franc gained sharply versus the US dollar on Thursday, breaking below support in the 0.9465 area to reach a 6-day low of 0.9410, testing the 21-day MA before ending trade in NY around 1% lower on the day at 0.9443.

The Swiss Finance Minister Jordan has said that a strong franc remains a problem although the trade balance is not too bad at this stage.

USD/CHF is virtually unchanged in early Asia, last at 0.9440. To the downside, support lies at 0.9396 (22 Dec high) and, below there, 0.9327 (25 Nov high), while, to the upside, resistance levels lie at 0.9464 (10 Jan low) and 0.9504 (6 Jan 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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