We have updated our privacy policy and terms & conditions. Find out more here.

USD/CHF: Pair Trading Below Its MAs

By  |  Forex  |  Nov 25, 2012 08:59AM GMT  |   Add a Comment
USD/CHF: Pair Trading Below Its MAs
By   |  Nov 25, 2012 08:59AM GMT
<span class=USD/CHF" title="USD/CHF" width="624" height="468" />
For the 24 hours to 23:00 GMT on Friday, the USD declined 0.12% against the CHF and closed at 0.9354.

According to media reports, the Swiss National Bank (SNB) Chief, Thomas Jordan, stated that the Swiss economy is likely to show weak growth dynamics in 2013 and will pick up momentum as the year progresses. He further said that for the full year 2012, the central bank still expects 1.0% growth. He also added that the uncertainties are large and the risks are clearly on the downside. At the same time, he brushed aside concerns that the Swiss economy would slip into recession in the third quarter due to the impact of recent developments in the eurozone, but admitted that Switzerland will experience “very low growth rates” in the third and fourth quarters of 2012.

In the Asian session, at 04:00 GMT, the pair is trading at 0.9347, with the USD trading marginally lower from Thursday’s close.

The pair is expected to find support at 0.9328, and a fall through could take it to the next support level of 0.9309. The pair is expected to find its first resistance at 0.9376, and a rise through could take it to the next resistance level of 0.9405.
Disclaimer: GCI Weekly Highlights is provided for informational purposes only. The information contained in these reports is gathered from reputable news sources and is not intended to be used as investment advice. GCI Financial Ltd. assumes no responsibility or liability from gains or losses incurred by the information herein contained.
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data .

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Are you sure you want to delete this chart?
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?

Successfully Reported

Thank you. This comment has been flagged for a moderator.