Foreign Exchange Rates Swiss Franc Commentary for 2-May-06

Swiss Franc Exchange Rate

 

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Swiss Franc Commentary for 2-May-06


Swiss Franc Commentary
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The Swiss franc extended recent gains vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.2320 level and was capped around the CHF 1.2445 level. Technically, yesterday’s intraday low was right around the 50% retracement of the move from CHF 1.1285 to CHF 1.3285. Data released in Switzerland today saw the PMI manufacturing survey receded to 63.8 in April from 65.3 in March, albeit still a high level. Dollar bids are cited around the CHF 1.2075 level. The euro came off marginally vis-à-vis the Swiss franc as the single currency tested bids around the CHF 1.5600 figure while the British pound moved higher vis-à-vis the Swiss franc and tested offers around the CHF 2.2720 level.

SUPPORT   RESISTANCE

L1. 1.2285 1.3285

L2. 1.2050 1.3400

L3. 1.1990 1.3745


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