6 Jun 2013
USD/CHF holding above 0.9400 barrier after Swiss CPI
FXstreet.com (Barcelona) - The USD/CHF foreign exchange has continued to edge lower Thursday, moving towards the critical 0.9400 barrier following the release of economic data in Switzerland.
In Switzerland, the Consumer Price Index (YoY) has yielded a figure of -0.5% in May, beating estimates of -0.6%. In addition, the Consumer Price Index (MoM) has grown +0.1% in May, matching expectations.
According to the ICN.com Technical Analyst Team, “Prolonged stability below the 0.9475 region is required to ultimately extend bearishness. However, since the pair is stable below 0.9545 thus far, the possibility of extending the downside move remains valid.”
Amidst this pullback, the pair is now settling at 0.9410/12 in these moments, incurring a loss of -0.09% after the Swiss data. Technically speaking, the Mataf.net analyst team points to support levels at 0.9338, ahead of 0.9342, and ultimately 0.9289. Alternatively, a thrust into positive territory will eventually drive the pair towards resistances at 0.9487, then 0.9540, onto 0.9586.
In Switzerland, the Consumer Price Index (YoY) has yielded a figure of -0.5% in May, beating estimates of -0.6%. In addition, the Consumer Price Index (MoM) has grown +0.1% in May, matching expectations.
According to the ICN.com Technical Analyst Team, “Prolonged stability below the 0.9475 region is required to ultimately extend bearishness. However, since the pair is stable below 0.9545 thus far, the possibility of extending the downside move remains valid.”
Amidst this pullback, the pair is now settling at 0.9410/12 in these moments, incurring a loss of -0.09% after the Swiss data. Technically speaking, the Mataf.net analyst team points to support levels at 0.9338, ahead of 0.9342, and ultimately 0.9289. Alternatively, a thrust into positive territory will eventually drive the pair towards resistances at 0.9487, then 0.9540, onto 0.9586.