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Forex: USD/CHF sideways trading at 0.9315/17

FXstreet.com (Barcelona) - The USD/CHF has refused to break out of its narrow consolidation Friday, having only moved 32 pips off the 0.9300 level during the trading day thus far. The sideways motion has still led the pair to trade negatively, though in these moments it has at least stabilized above the 0.9300 level, operating at 0.9315/17.

According to Research Analyst Gareth Berry at UBS, “We reiterate our bearish stance for the USD/CHF and as long as resistance at 0.9345 holds, there is scope for resumption of downside. Meanwhile, support is at 0.9257 ahead of 0.9207.

In the EMU, the Current Account s.a. came in at €16.3B in February, beating estimates of only €15.0B. Moreover, the Current Account n.s.a. yielded a figure of €12.1B, which crushed expectations of only €1.3B

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