Swiss consumer confidence improves, and Swiss francs remain weak

On Thursday (February 9) in the late Asian market, USD/CHF fell slightly and traded around 0.9100. The exchange rate is below the 10-day moving average and the short term moving average indicator is bearish.

According to data released by Switzerland, the consumer confidence index in the first quarter of 2012 was -19.0, better than expected -25.0, better than the previous value of -24.0.

Although the data has improved, it still shows that Swiss consumer confidence is still weak. Coupled with the Swiss authorities' reiteration of the decision to limit the Swiss franc’s appreciation, the Swiss franc is still weak after the data release, slightly supporting the USD/CHF trend and trading at 0.9100. nearby.

Analysts pointed out that around the uncertainty of the European sovereign debt crisis, but fear the SNB intervenes in remarks, the market is gradually reducing its buying of the Swiss franc, and the USD/CHF will be steadily rising.

Technically, USD/CHF oscillated around the 100-day moving average on the daily exchange rate. If the exchange rate is worn out of the 100-day moving average, USD/CHF or the October 11 low of 0.8569 will be seen. The rebound is focused on the 20-day moving average (around 0.9260) pressure level. If it breaks through, it looks at the January 2012 high of 0.9594.

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