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16 May 2013
Forex: USD/CHF trades flat ahead of US data
FXstreet.com (Córdoba) - With most markets trading in narrow ranges, the US dollar managed to advance versus the franc during the European session but was unable to sustain gains for long and most recently pulled back to opening levels.
USD/CHF peaked at 0.9708 on Thursday, not too far from its 9-month high of 0.9746 scored yesterday, but slowly retraced those gains to currently trade flat on the day at the 0.9650 area.
On the upside, immediate resistances could be found at 0.9708 (daily high) and 0.9746 (2013 May 15 high) ahead of 0.9775 (high Aug 17). On the downside, supports are seen at 0.9643 (daily low) and 0.9610 (100-hour SMA).
USD/CHF peaked at 0.9708 on Thursday, not too far from its 9-month high of 0.9746 scored yesterday, but slowly retraced those gains to currently trade flat on the day at the 0.9650 area.
On the upside, immediate resistances could be found at 0.9708 (daily high) and 0.9746 (2013 May 15 high) ahead of 0.9775 (high Aug 17). On the downside, supports are seen at 0.9643 (daily low) and 0.9610 (100-hour SMA).