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USD/CHF testing the 0.9600 barrier

FXstreet.com (Barcelona) - The USD/CHF finally gathered steam for a push back above the 0.9600 level, fueled in part by upbeat economic data in the United States.

In terms of economic data this afternoon, in the United States, the Markit Manufacturing PMI yielded a figure of 52.3 in May, beating estimates of 52.0.

Despite this thrust towards the 0.9610 level however (intraday high), the pair has eased back towards the 0.9600 level at the time of writing, testing this key region during US trading. Mataf.net analysts identify the next short-term resistances 0.9619, onto 0.9679, and finally 0.9732. On the pullback, short-term supports for the USD/CHF will trigger at 0.9506, then 0.9453, and finally 0.9393.

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