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Forex: USD/CHF trades above 0.9200 level

By FXstreet.com,  January 03, 2013, 03:12:00 AM EDT

FXstreet.com (Barcelona) - After surrendering the 0.9100 level yesterday during Asian trading, the USD/CHF has rebounded with a tremendous degree of fortitude Thursday, retaking the 0.9200 mark during the European session. This steadfast climb has resulted in the pair trading at 0.9211/13 after the recent publication of Swiss data.

In Switzerland, the KOF Leading Indicator yielded a result of 1.28 in December, relative to a consensus of 1.35, and down from 1.50 previously. Still ahead within the hour is the SVME Purchasing Managers Index (December) at 8:30 GMT.

Presently the pair has jumped +0.33% above it's opening and according to Research Analyst Gareth Berry at UBS, the USD/CHF is still exhibiting bearish conditions, despite the recent gains. Berry calculates the next resistances at 0.9231 onto 0.9267. Conversely, a movement or consolidation would result in the retest of supports found at 0.9079 and ultimately 0.9041.




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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