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19 Feb 2013
Forex: USD/CHF eases off lows after US data
The USD/CHF dropped from its high, peak at 0.9250, since mid-European session, sharpening the fall on the NY opening and coming to test the 0.9225 zone for the third time on Tuesday trading. Today's range remains very tight, of 25 pips, and surrounding the opening price of 0.9233.
The Housing Market Index by NAHB was expected to rise from 47 to 48 in February, but actual data points to a drop to 46, disappointing investors. After the release of the US data, downside pressure eased and the pair has returned to the opening price.
“The USD/CHF currency pair is still consolidating near its maximums. I think today the price may leave this consolidation channel upwards to reach the level of 0.9280”, wrote Roboforex.com analyst Igor Sayadov, pointing to 0.9300 as the main target, but risking an eventual reversal pattern to continue moving downwards.
The Housing Market Index by NAHB was expected to rise from 47 to 48 in February, but actual data points to a drop to 46, disappointing investors. After the release of the US data, downside pressure eased and the pair has returned to the opening price.
“The USD/CHF currency pair is still consolidating near its maximums. I think today the price may leave this consolidation channel upwards to reach the level of 0.9280”, wrote Roboforex.com analyst Igor Sayadov, pointing to 0.9300 as the main target, but risking an eventual reversal pattern to continue moving downwards.