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Forex: USD/CHF erases gains to trade at 0.9347/49

FXstreet.com (Barcelona) - The USD/CHF has inched lower Monday, on the heels of a disappointing Swiss data release during European trading. Having topped out at the 0.9361 (session high) earlier today, the pair has now moved into negative territory, erasing its gains to operate at 0.9347/49 in these moments.

At this juncture the cross is operating at a minor loss of -0.05% Friday. ICN.com analysts identify corrective measures of support 0.9320, then 0.9305, and finally the 0.9270 handle. Conversely, resistances for the USD/CHF will initiate at 0.9425 onto 0.9460 and ultimately 0.9495.

According to the ICN.com Technical Analyst Team, “The USD/CHF is moving to the downside again but is trading in critical levels above 0.9375 and below key support level and below 0.9495. Therefore, we will remain neutral in our report pointing out that breaking 0.9375 and stability below it might clearly push the pair lower.”

In Switzerland, Industrial Production (QoQ) yielded a decline of -2.4% in Q4, compared with a growth of +7.9% in the previous quarter.

Switzerland: Industrial Production drops 2.4% in Q4

Swiss Industrial Production fell by 2.4% in the fourth quarter of 2012, following a 7.9% increase in the previous quarter, according to data released today by Swiss Statistics.
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