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16 May 2013
Forex: USD/CHF eases below 0.9700 after EMU CPI
FXstreet.com (Barcelona) - The USD/CHF rally was capped at 0.9710 Thursday (session high), following the release of economic data in the EMU, by and large the paramount event of this morning. During European trading, the pair is still positive, operating at +0.38%, despite easing back towards the 0.9683/85 level.
Technically speaking, Mataf.net analysts point to 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 EMU, the Consumer Price Index (YoY) has grown +1.2% in April vs. estimates of +1.2%. Moreover, the Consumer Price Index – Core (YoY) has yielded +1.0% in April, matching a projection of +1.0%. Finally, the Consumer Price Index (MoM) fell -0.1% in April, in line with expectations.
Technically speaking, Mataf.net analysts point to 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 EMU, the Consumer Price Index (YoY) has grown +1.2% in April vs. estimates of +1.2%. Moreover, the Consumer Price Index – Core (YoY) has yielded +1.0% in April, matching a projection of +1.0%. Finally, the Consumer Price Index (MoM) fell -0.1% in April, in line with expectations.