USD/CHF oscillating around the flat line early Monday ahead of Swiss data

FXstreet.com (Barcelona) - The USD/CHF is in the midst of an upside correction that should take the cross at least up to 0.9067 according to technicians – but not before the cross tests 0.8991 on the downside.

USD/CHF traders to react to Swiss and US data on Monday

The USD/CHF will be pushed around by some decent data flow from Switzerland and the US on Monday – including:

• Swiss Monthly Statistical Bulletin
• Swiss UBS Consumption Indicator
• Chicago Fed National Activity Index
• Personal Consumption and Spending data
• Reuters / University of Michigan Consumer Sentiment Index

Technical outlook for USD/CHF

Technicians say the USD/CHF is in pullback mode after the rally off of recent lows. The pullback target generated by Fibonacci retracement is 0.8991. Resistance comes in at another Fibonacci projection line at .9061.