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Forex: USD/CHF looks at 0.9500 as European data comes in

With a 6-month high printed at 0.9552 on Friday's up move triggered by stronger US Nonfarm Payrolls, the USD/CHF is moving sideways and under a tight range since the start of the week. European money is attracting the price for a test of the 0.9500 mark.

The German trade surplus eased from €16.9B to €15.7B as imports (+3.3% vs +1.0% consensus) rose more than exports (+1.4% vs +0.3% consensus) in January. French industrial output dropped -1.2% in January, instead of the +0.1% expected. Soon, Switzerland retail sales will be released.

“USD/CHF has eroded the 0.9513 November 2012 high, it remains in a bull move and targets initially 0.9595/0.9609 the January 2012 high and .61.8% retracement of the move down from the 2012 peak”, wrote Commerzbank analyst Karen Jones.

France Industrial Output (MoM): -1.2% in Jan from -0.1% in Dec

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