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16 May 2013
Forex: USD/CHF falls to support at 0.9619/21 after checkered US CPI
FXstreet.com (Barcelona) - The 0.9700 level has alluded the USD/CHF ever since European trading. Following a massive easing off of session highs at 0.9710, the pair has clung to positive territory, only after erasing a viable chunk of its daily gains. Following the US data release, the pair has tumbled into negative territory at 0.9619/21, inking fresh daily lows.
In the United States, the Consumer Price Index (YoY and MoM) came in at +1.1% in April (against expectations of +1.3%) and -0.4% in April (vs. projections of -0.2%) respectively. In addition, the Consumer Price Index ex Food & Energy (YoY) climbed +1.7% in April, relative to a consensus of +1.8%.
Following a plunge of -0.30% below its opening Thursday, the Mataf.net technical analyst team points to short-term resistive means for the USD/CHF at 0.9722, ahead of 0.9788, and ultimately 0.9827. Conversely, a break below the 0.9617 handle will initiate support at 0.9578 and 0.9512.
In the United States, the Consumer Price Index (YoY and MoM) came in at +1.1% in April (against expectations of +1.3%) and -0.4% in April (vs. projections of -0.2%) respectively. In addition, the Consumer Price Index ex Food & Energy (YoY) climbed +1.7% in April, relative to a consensus of +1.8%.
Following a plunge of -0.30% below its opening Thursday, the Mataf.net technical analyst team points to short-term resistive means for the USD/CHF at 0.9722, ahead of 0.9788, and ultimately 0.9827. Conversely, a break below the 0.9617 handle will initiate support at 0.9578 and 0.9512.