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19 Mar 2013
Forex: USD/CHF still pressured during US trade
FXstreet.com (Barcelona) - The area at 0.9430 has been holding the USD/CHF against further downside successfully, but the market is insisting is keeping the pair subdued at that area, below the opening price of 0.9460 and the daily high at 0.9480.
US Building Permits rose from 0.904M to 0.946M in February, beating consensus of 0.925M. January data was revised lower, from 0.925M. US Housing Starts also improved more than expected, from 0.910M (revised from 0.89M) to 0.917M. Market consensus was at 0.915M.
“We think today the price may continue growing up towards the target at 0.9500 and then start a new descending wave to reach the level of 0.9300” wrote Roboforex.com analyst Igor Sayadov.
US Building Permits rose from 0.904M to 0.946M in February, beating consensus of 0.925M. January data was revised lower, from 0.925M. US Housing Starts also improved more than expected, from 0.910M (revised from 0.89M) to 0.917M. Market consensus was at 0.915M.
“We think today the price may continue growing up towards the target at 0.9500 and then start a new descending wave to reach the level of 0.9300” wrote Roboforex.com analyst Igor Sayadov.