With the high demand for the U.S. dollar on Friday, the pair USD / CHF since the opening of European trading to reach the point 0.9270. And after the pair fell rapidly to 0.9260 returned to the peak height day Hoacm trading it at the moment.
This has European Union leaders agreed on a consolidated supervision mechanism. However, delay activation of this mechanism to 2013 which prevents it from the European Stability Mechanism Fund and funding Spanish banks which weigh on European sovereignty that the expansion of public debt by about 4.0% to meet the target of averages.
And the Swiss franc, has increased the demand for it private at 06:00 GMT, with the release of PPI data German improved annual reading of 1.6% + 1.7% + in September. Also widened the seasonally adjusted reading of the current account surplus in the euro zone to 8.8 billion euros in August compared with the previous recorded 8.1 billion euros. However declined seasonally adjusted reading of 14.3 to 7.2 billion euros. As Italian industrial orders came weak on a monthly and yearly basis with improved industrial sales in August. The annual readings are still in the downturn.
On the technical side, says Karen Jones, technical analyst Bank Commerz, "through graphs for the pair USD / CHF, we find that trading is limited to a narrow range and this reflects the loss of downward momentum." The analyst expects that the pair faces resistance at 0.9275/0.9300 area and then the 0.9360 resistance line such as basic resistance, 0.9438 (peak height in October).
