15 Jun 2015
CHF struggles to rise on retail sales, USD/CHF at 0.9310-0.9315
FXStreet (Mumbai) - The Swiss Franc failed to strengthen on the rebound in the retail sales shown by the official data released today. The USD/CHF pair continues to trade around 0.9310 levels.
Hovers around hourly 50-MA
The hourly 50-MA currently located at 0.9309 is being put to test at the moment. The Swiss Franc failed to strengthen even though retail sales increased 1.6% year-on-year in May, following a 2.8% decline in April. Still, the USD/CHF managed to rise back above 0.93 levels.
Moreover, the pair is mimicking the moves witnessed in the EUR/USD pair as the Swiss Franc has been widely favored as a safe haven amid the ongoing Greek deal no deal saga.
USD/CHF Technical Levels
A break below the immediate support at 0.9286 could drive the pair lower to 0.9240. On the flip side, a rise above 0.9337 could see the pair target 0.9389.
Hovers around hourly 50-MA
The hourly 50-MA currently located at 0.9309 is being put to test at the moment. The Swiss Franc failed to strengthen even though retail sales increased 1.6% year-on-year in May, following a 2.8% decline in April. Still, the USD/CHF managed to rise back above 0.93 levels.
Moreover, the pair is mimicking the moves witnessed in the EUR/USD pair as the Swiss Franc has been widely favored as a safe haven amid the ongoing Greek deal no deal saga.
USD/CHF Technical Levels
A break below the immediate support at 0.9286 could drive the pair lower to 0.9240. On the flip side, a rise above 0.9337 could see the pair target 0.9389.