Friday, October 2, 2009
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Latest Forex Update :-
Forex: USD/CHF ends week below 1.0400
Dollar closed the week with gains against the Swiss Franc for the first time after three with losses. USD/CHF moved away from intra-week highs. The pair peaked at 1.0452, posting a fresh 3-week high on Thursday but then pulled back ending Friday around 1.0350.
USD/CHF is moving with an upside trend in four hour chat but still faces a downside pressure in bigger timeframe charts.
The Swiss also lost ground against Cable. GBP/CHF pulled back strongly after falling to a 7-month low at 1.6219. The pair managed to finish the week above 1.6500.
EUR/CHF plunged Thursday and Friday, losing completely the gains of Wednesday: the pair rallied surprisingly jumping from 1.5070 to 1.5240 bringing the attention to the Swiss National Bank.