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Forex: USD/CHF storms ahead to 0.9167

By FXstreet.com,  December 28, 2012, 04:26:00 AM EDT

FXstreet.com (Barcelona) - The USD/CHF has spiked over 40 pips the past hour, bouncing off of session lows in the 0.9117 region. Following an ascension into the heights of 0.9167, the pair is trading at session highs, notching an advance of +0.39% above its opening.

It has been a relatively quiet morning on the data front across Europe. In Italy, the Producer Price Index (MoM) fell by -0.1% in the month of November, beating consensus expectations of -0.2%, and recovering from -0.3% in the previous month. Meanwhile, the Producer Price Index (YoY) came in at +2.0% in November, against estimates of +2.1%, and compared with +2.3% previously.

From a technical perspective, the analyst team at Mataf.net cites the next resistances at 0.9187 onto 0.9217 after a break above initial resistance at 0.9155. Conversely, the USD/CHF is slated to encounter means of support at 0.9093, then 0.9063, and finally 0.9031.




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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