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27 Mar 2013
Forex: USD/CHF rises above 0.9500 on data releases
FXstreet.com (Barcelona) - With the 94.00 ground tested, the USD/CHF got back to the upside this week but was failing to breach above the 0.9500 psychological level. As of writing, the market is pushing higher, and trying to keep its price sustainedly at 95.00 area. Such movement was driven in anticipation to the economic calendar.
Switzerland KOF Leading Indicator fell from 1.04 (revised from 1.03) to 0.99 in March, disappointing consensus of 1.02. French GDP eased from -0.3% in Q4 (QoQ), following a 0.1% rise. In Spain, retail sales rebounded from -10% to -8% (YoY) in February and HICP eased from 2.9% to 2.6% in March (consensus of 2.7%).
UBS analysts are bullish on the USD/CHF: “With trending and momentum indicators pointing higher, there is scope for further upside to resistance at 0.9567 and even 0.9636”, wrote analyst Gareth Berry, pointing to support at 0.9428.
Switzerland KOF Leading Indicator fell from 1.04 (revised from 1.03) to 0.99 in March, disappointing consensus of 1.02. French GDP eased from -0.3% in Q4 (QoQ), following a 0.1% rise. In Spain, retail sales rebounded from -10% to -8% (YoY) in February and HICP eased from 2.9% to 2.6% in March (consensus of 2.7%).
UBS analysts are bullish on the USD/CHF: “With trending and momentum indicators pointing higher, there is scope for further upside to resistance at 0.9567 and even 0.9636”, wrote analyst Gareth Berry, pointing to support at 0.9428.