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Forex: USD/CHF falls after EMU data to 0.9290/91

By FXstreet.com,  January 16, 2013, 05:20:00 AM EDT

FXstreet.com (Barcelona) - The USD/CHF has fallen slightly off of the 0.9300 handle in the aftermath of EMU data that was generally in line with expectations. The latest move takes the pair towards the 0.9290/91 level, augmenting todays loss, which now stands at -0.31% at the time of writing Wednesday.

In the EMU, the Consumer Price Index - Core (YoY) rose +1.5% in December, relative to a figure of +1.4% in the previous month. Moreover, the Consumer Price Index (MoM) reported a growth of +0.4% in December, which exceeded estimates of only +0.3%. Finally, the Consumer Price Index (YoY) climbed +2.2% in the month of December, which was in line with consensus expectations.

Technically speaking, a breach of the 0.9293 level will trigger further means of supportive correction for the USD/CHF. Conversely, the pair is slated to face calculated resistance at the 0.9330 (0.9331, session high), 0.9345, and 0.9381 levels, notes Slobodan Drvenica, an analyst at Windsor Brokers Ltd.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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