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21 Feb 2013
Forex: USD/CHF breaks above 0.9300
The US dollar extended gains versus the franc and broke above the 0.9300, as it continues to benefit from the latest FOMC minutes and broad risk aversion.
USD/CHF has climbed over 60 pips throughout the day and reached its strongest level in a month at 0.9328. However, the pair found resistance and pulled back slightly to currently trade around 0.9320, where it posts a 0.6% gain on the day.
"Dollar-Swiss has continued to rise and has broken 0.9300 resistance and is currently looking for a further rise towards 0.9370-80 levels", says the Kshitij Consultancy Services Team. "On the downside 0.9300 is a good support now (...) 0.9400 does look a possibility".
USD/CHF has climbed over 60 pips throughout the day and reached its strongest level in a month at 0.9328. However, the pair found resistance and pulled back slightly to currently trade around 0.9320, where it posts a 0.6% gain on the day.
"Dollar-Swiss has continued to rise and has broken 0.9300 resistance and is currently looking for a further rise towards 0.9370-80 levels", says the Kshitij Consultancy Services Team. "On the downside 0.9300 is a good support now (...) 0.9400 does look a possibility".