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14 Mar 2013
Forex: USD/CHF trades higher to 0.9537/40 following SNB decision
The USD/CHF has traded unevenly on the heels of the SNB decision, which was unchanged, leaving the pair devoid of any large-scale sweeping movements. Indeed, the pair has not lost its grip on the 0.9500 level, and is trending higher after a brief setback in recent minutes towards 0.9523. In these moments however, the cross is trading positively at 0.9537/40, up +0.13%.
According to the ICN.com Analyst Team, “Prolonged stability above the 0.9375 level remains positive, however for today’s intraday trading we will count on stabilizing above 0.9465 levels to reiterate this outlook”
The team calculates the next resistances at the 0.9570 level, followed by 0.9610, and finally 0.9655. On the decline, a break lower towards the 0.9515 support will activate additional means of correction at 0.9495 and the 0.9465 region.
The Swiss National Bank decided to leave the minimum exchange rate unchanged at CHF 1.2000 relative to the euro on Thursday and “will continue to enforce it with the utmost determination,” as it is stated in the official document released after the decision was made known.
According to the ICN.com Analyst Team, “Prolonged stability above the 0.9375 level remains positive, however for today’s intraday trading we will count on stabilizing above 0.9465 levels to reiterate this outlook”
The team calculates the next resistances at the 0.9570 level, followed by 0.9610, and finally 0.9655. On the decline, a break lower towards the 0.9515 support will activate additional means of correction at 0.9495 and the 0.9465 region.
The Swiss National Bank decided to leave the minimum exchange rate unchanged at CHF 1.2000 relative to the euro on Thursday and “will continue to enforce it with the utmost determination,” as it is stated in the official document released after the decision was made known.