Forex: USD/CHF down ahead of German IFO

FXstreet.com (Barcelona) - The USD/CHF eased from 0.9475 to below its opening price of 0.9564, going as low as 0.9452 the European session opened. China’s MNI business sentiment indicator eased from 60.98 to 58.39 in March, while the French business climate remained at 90 instead of rising to 91 as expected.

The German IFO survey is due at 09:00 GMT, with consensus of slight improvement in business cli-mate, current assessment and expectations in March.

Commerzbank analysts expect a slip back towards the 200 day moving average at 0.9419 at some stage, and possibly Friday’s .9379 low. “A rise above Tuesday’s 0.9491 high would void the above short term forecast and target the 0.9513 November high instead, however”, wrote analyst Karen Jones.