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15 Feb 2013
Forex: USD/CHF pressing higher
The USD/CHF is moving higher as the European session unfolds. A first attempt found resistance at 0.9235, and after returning to the opening price zone, the pair came back to its highs, with intentions of breaking higher.
Ahead in the day, investors will be eyeing US NY Empire State manufacturing, TIC flows, Industrial Production and Reuters/Michigan consumer sentiment to better price the greenback and the FX market. The G20 meeting will remain the main focus of the day. Headlines may trigger moves.
"With 4h studies holding positive tone, extension towards 0.9300, Fib 76.4%, would likely near-term scenario, while 0.9200 zone, now reverted to support, holds the downside", wrote Windsor Brokers analyst Slobodan Drvenica, adding that only loss of range floor at 0.9150 will be bearish.
Ahead in the day, investors will be eyeing US NY Empire State manufacturing, TIC flows, Industrial Production and Reuters/Michigan consumer sentiment to better price the greenback and the FX market. The G20 meeting will remain the main focus of the day. Headlines may trigger moves.
"With 4h studies holding positive tone, extension towards 0.9300, Fib 76.4%, would likely near-term scenario, while 0.9200 zone, now reverted to support, holds the downside", wrote Windsor Brokers analyst Slobodan Drvenica, adding that only loss of range floor at 0.9150 will be bearish.