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Fundamentals

CHF/USD Fundamental Outlook at 1500 GMT (EST + 0500)

CHF/USD Fundamental Outlook at 1500 GMT (EST + 0500)
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23 July 2008 @ 03:38 pm EST
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The Swiss franc depreciated vis--vis the U.S. dollar today as the greenback tested offers around the CHF 1.0400 figure and was supported around the CHF 1.0290 level. Technically, todays intraday high was right around the 23.6% retracement of the move from CHF 0.9645 to CHF 1.0625. U.S. dollar offers are cited around the CHF 1.0395 level. The euro and British pound moved higher vis--vis the Swiss franc as the crosses tested offers around the CHF 1.6310 and CHF 2.0785 levels, respectively.

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