4 Sep 2013
USD/CHF fails to make splash after EMU data
FXstreet.com (Lisbon) - The USD/CHF foreign exchange rate has ultimately abstained from large sweeping movements on the heels of a multi-tiered batch of EMU data, clinging to a narrow consolidation.
Earlier today in the EMU, Gross Domestic Product s.a. (YoY) yielded a figure of -0.5% in Q2, beating a consensus of -0.7%. Finally, Retail Sales (YoY) were reported at -1.3% in July, compared to estimates of -0.4%
USD/CHF technical levels
Having only wavered 28 pips thus far (0.9356 – 0.9384), the USD/CHF is now trading near the top end of its range at 0.9374, inching higher at a rate of +0.5% during European trading. In terms of the technical levels, the USD/CHF is pointed higher and looks to face resistance at 0.9383, onto 0.9396, and 0.9415, calculates the Danske Research team.
Earlier today in the EMU, Gross Domestic Product s.a. (YoY) yielded a figure of -0.5% in Q2, beating a consensus of -0.7%. Finally, Retail Sales (YoY) were reported at -1.3% in July, compared to estimates of -0.4%
USD/CHF technical levels
Having only wavered 28 pips thus far (0.9356 – 0.9384), the USD/CHF is now trading near the top end of its range at 0.9374, inching higher at a rate of +0.5% during European trading. In terms of the technical levels, the USD/CHF is pointed higher and looks to face resistance at 0.9383, onto 0.9396, and 0.9415, calculates the Danske Research team.