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Forex: USD/CHF pulling back to 0.9500

Having gone as low as 0.9466 in retracement of Friday's rally on stronger-than-expected US NFP data, the USD/CHF is stabilizing at 0.9490/95 area, for now, and looking at 0.9500.

Germany WPI came in at 0.1% in February (MoM), below 0.3% consensus. CPI and HICP came in at 0.6% and 0.8%, respectively, as expected. France current account deficit widened from €-3.8B (revised from €-3.6B) to €-5B in January.

First target is 0.9595/0.9609, according to Commerzbank analysts. "We then look for gains to the 200 week ma at 0.9694 (please note we have not been above this average for around 3 years). Ultimately we target 0.9972, the 2012 high", wrote analyst Karen Jones.

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