Back
29 May 2013
USD/CHF falls off highs to trade at 0.9726/28
FXstreet.com (Barcelona) - The USD/CHF fell off the 0.9791 handle (session high), after a failed attempt to summit the 0.9800 upside level/barrier Wednesday.
Following the publication of Swiss data earlier, the cross was seen incurring a loss of -0.45% off its opening, while settling at 0.9726/28 in these moments. Should the losses continue, Mataf.net analysts identify the next short-term supports at 0.9675, then 0.9602, and finally 0.9549.
In Switzerland, the UBS Consumption Indicator (April) came in at 1.46, improving over a figure of 1.24 in the previous month. Later today beginning at 7:55 GMT, German Unemployment data will really help drive the short-term fortunes of the pair, as the European session will be dominated by this release.
According to Research Analyst Gareth Berry at UBS, “By examining the four-hour interval chart, we notice that the USD/CHF failed to stabilize above 0.9700 and 0.9730 supporting the return of the bearish move. Trading below the previous levels will force us to hold on to our negative expectations.”
Following the publication of Swiss data earlier, the cross was seen incurring a loss of -0.45% off its opening, while settling at 0.9726/28 in these moments. Should the losses continue, Mataf.net analysts identify the next short-term supports at 0.9675, then 0.9602, and finally 0.9549.
In Switzerland, the UBS Consumption Indicator (April) came in at 1.46, improving over a figure of 1.24 in the previous month. Later today beginning at 7:55 GMT, German Unemployment data will really help drive the short-term fortunes of the pair, as the European session will be dominated by this release.
According to Research Analyst Gareth Berry at UBS, “By examining the four-hour interval chart, we notice that the USD/CHF failed to stabilize above 0.9700 and 0.9730 supporting the return of the bearish move. Trading below the previous levels will force us to hold on to our negative expectations.”