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Forex Flash: USD/CHF ranging likely to be seen - Commerzbank

FXstreet.com (London) - Axel Rudolph, Senior Technical Analyst has taken a look at USD/CHF and suggests that a topside has struggled to break higher from the top of the daily cloud and the market has reacted back into the cloud range (0.9295/0.9438).

He say’s that further ranging is likely to be seen and feels that, currently, it is worth continuing to hold longs, but suggests that patience is required.

His team at the Bank suspect that this is a market which is consolidating and gearing up to eventually challenge the 0.9481 ten month downtrend line.

They are suggesting that there is key support remaining at the 0.9262 support line, which should now under pin the market.

UK: Annual Industrial Production falls 1.4% in March

Year-over-year UK Industrial Production fell by 1.4% in March, following a 2.5% drop in February, National Statistics informed on Thursday. This is a more positive result that the forecasted 1.6% decrease. UK Industrial Production grew by 0.7% between February 2013 and March 2013, in comparison with the 0.9% increase registered between January 2013 and April February and above expectations of a 0.2% rise.
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