6 Sep 2013
USD/CHF pares losses after Swiss CPI
FXstreet.com (Lisbon) - The USD/CHF traded unevenly Friday morning during European trading, still deciding which direction to trade as it recently moves higher to pare its daily losses.
In Switzerland, Industrial Production (YoY) fell -4.2% in Q2, compared with a result of +0.5% previously. Moreover, the Consumer Price Index (YoY) was unchanged in August, matching expectations. Finally, Industrial Production (QoQ) was reported at -1.1 in Q2%, relative to +3.5% in previous quarter.
USD/CHF strategic bias
According to the Technical Analyst Team at ICN.com, “The USD/CHF managed to stabilize today around 50% correction at 0.9450. Linear Regression Indicators support positivity while momentum indicators tend to be negative. We need to see how the pair would react with the referred to correction, se we prefer to remain neutral.”
USD/CHF technical levels
Presently, the USD/CHF has is still trading negatively at -0.08% off its opening, settling at 0.9442. Briefing the technicals, the USD/CHF will encounter means of calculated support at 0.9401, a break of which will open up 0.9383, onto 0.9369, notes the Mataf.net analyst team.
In Switzerland, Industrial Production (YoY) fell -4.2% in Q2, compared with a result of +0.5% previously. Moreover, the Consumer Price Index (YoY) was unchanged in August, matching expectations. Finally, Industrial Production (QoQ) was reported at -1.1 in Q2%, relative to +3.5% in previous quarter.
USD/CHF strategic bias
According to the Technical Analyst Team at ICN.com, “The USD/CHF managed to stabilize today around 50% correction at 0.9450. Linear Regression Indicators support positivity while momentum indicators tend to be negative. We need to see how the pair would react with the referred to correction, se we prefer to remain neutral.”
USD/CHF technical levels
Presently, the USD/CHF has is still trading negatively at -0.08% off its opening, settling at 0.9442. Briefing the technicals, the USD/CHF will encounter means of calculated support at 0.9401, a break of which will open up 0.9383, onto 0.9369, notes the Mataf.net analyst team.