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20 Mar 2013
Forex: USD/CHF finding resistance at 0.9480
FXstreet.com (Barcelona) - The USD/CHF is trading mostly above the opening price line, above 0.9468, but it has been difficult to move successfully above 0.9480. German PPI contracted -0.1% in February instead of improving +0.2% as expected. The annualized data eased from 1.7% to 1.2%, below the 1.5% consensus.
EMU current account is due at 09:00 GMT and experts expect a narrower surplus in January, from €13.9B to €7.9B.
UBS analysts are bullish: “While important support at 0.9359 holds, there is potential for resumption of strength”, wrote analyst Gareth Berry, pointing to initial resistance at 0.9567, which break above would open 0.9636.
EMU current account is due at 09:00 GMT and experts expect a narrower surplus in January, from €13.9B to €7.9B.
UBS analysts are bullish: “While important support at 0.9359 holds, there is potential for resumption of strength”, wrote analyst Gareth Berry, pointing to initial resistance at 0.9567, which break above would open 0.9636.