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Forex: USD/CHF finding resistance at 0.9480

FXstreet.com (Barcelona) - The USD/CHF is trading mostly above the opening price line, above 0.9468, but it has been difficult to move successfully above 0.9480. German PPI contracted -0.1% in February instead of improving +0.2% as expected. The annualized data eased from 1.7% to 1.2%, below the 1.5% consensus.

EMU current account is due at 09:00 GMT and experts expect a narrower surplus in January, from €13.9B to €7.9B.

UBS analysts are bullish: “While important support at 0.9359 holds, there is potential for resumption of strength”, wrote analyst Gareth Berry, pointing to initial resistance at 0.9567, which break above would open 0.9636.

Forex Flash: Italian politics strikes back – TD Securities

In addition to headline risk from Cypriot politics, they may also be headlines surrounding Italian politics as Italy’s president has confirmed that discussions aiming to form a coalition will step up today. “With PD members being named to head both the Senate and the Chamber of Deputies last weekend, and subsubsequent comments from Berlusconi that there should be new elections, it looked like the chances of a PD/PdL coalition were falling, but on Tuesday Berlusconi has now said he thinks there should be a PD/PdL coalition, which for us would still be the most positive market outcome”, wrote analyst Alvin Pontoh, analyst at TD Securities.
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Forex: AUD/USD upside capped around 1.0390

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