1 Jul 2013
USD/CHF breaches 0.9500 on US ISM
FXstreet.com (New York) - The USD/CHF foreign exchange rate received a welcome catalyst in the form of US economic data, that pushed the pair to session highs Monday.
USD/CHF moves above resistance
At the time of writing, the USD/CHF is trading at 0.9498, up a robust +0.41% (session highs at 0.9505). After breaking above resistance at 0.9488, the Danske Research Team calculate additional measures of correction at 0.9521, then 0.9541, and 0.9563.
USD/CHF moves higher on economic data in US
In the United States, Construction Spending (MoM) grew only +0.5% in May, against expectations of +0.6%. Moreover, the ISM Manufacturing PMI yielded a figure of 50.9 in June, beating a projection of 50.5. Finally, ISM Prices Paid (June) came in at 52.5, exceeding estimates of 51.5.
USD/CHF moves above resistance
At the time of writing, the USD/CHF is trading at 0.9498, up a robust +0.41% (session highs at 0.9505). After breaking above resistance at 0.9488, the Danske Research Team calculate additional measures of correction at 0.9521, then 0.9541, and 0.9563.
USD/CHF moves higher on economic data in US
In the United States, Construction Spending (MoM) grew only +0.5% in May, against expectations of +0.6%. Moreover, the ISM Manufacturing PMI yielded a figure of 50.9 in June, beating a projection of 50.5. Finally, ISM Prices Paid (June) came in at 52.5, exceeding estimates of 51.5.