[USD/CHF] which rose to a
By[USD/CHF] which rose to a session high in Asian trade on Friday
reversed its earlier gains to post an o/n low of 0.9877 during the
European session buoyed by the Eur/Usd getting a fillip from the Irish
Finance Minister that the country needed some sort of aid to shore up its
battered banks and budget deficits. However, heavy buying in the Eur/Chf
by a german and UK Clearer which saw the cross hit an o/n high of 1.3674
level weighed on the CHF giving a prop to the pair as it rose to an o/n
high of 0.9998 before easing back to end the US session around the 0.9920
level. The downside remains vulnerable as long as the parity level holds
the upside with any break above likely to see the 1.0075 level in a hurry.
on the day, buying orders at 0.9865 by a French name will protect the
downside and selling orders at 0.9970 by a European name will keep the
range
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