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20 Feb 2013
Forex: USD/CHF reverses losses, back above 0.9200
The dollar strengthened across the board during the European session as the unexpectedly dovish BoE vote encouraged greenback demand.
Against the franc, the USD managed to reverse earlier losses and stretched to a fresh daily high of 0.9234 ahead of the NY opening. At time of writing, USD/CHF is quoting around 0.9230, where it is little changed since opening.
"The forecast has turned bearish in the near/medium term and a further fall towards 0.9150 is expected", says the Kshitij Consultancy Services Team. "On the upside it has strong resistance in the 0.9230-50 region which is likely to keep the pair under pressure".
Against the franc, the USD managed to reverse earlier losses and stretched to a fresh daily high of 0.9234 ahead of the NY opening. At time of writing, USD/CHF is quoting around 0.9230, where it is little changed since opening.
"The forecast has turned bearish in the near/medium term and a further fall towards 0.9150 is expected", says the Kshitij Consultancy Services Team. "On the upside it has strong resistance in the 0.9230-50 region which is likely to keep the pair under pressure".