Forex: USD/CHF trading near opening levels at 0.9226/30

The USD/CHF has fallen in recent minutes, moving into the threshold at negative territory as German data is digested by market participants Friday. While the marquee event of the day, i.e. payroll data is surely holding back some traders, the pair has managed to move during European trading and has settled at 0.9426/28.

In Germany, Industrial Production s.a. (MoM) was unchanged at 0.0% in January, against expectations of +0.5%. Moreover, Industrial Production s.a. w.d.a. (YoY) fell -1.3% in the month of January, against a consensus of only -1.2%.

According to Research Analyst Gareth Berry at UBS, “the stance on the USD/CHF remains bullish Friday, with resistance at 0.9513 – a break above would indicate potential for further strength to 0.9609, while support is at 0.9394.”