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Jun 3, 2013
USD/CHF plunges to 0.9556/58 on weak ISM in US
FXstreet.com (Barcelona) - The USD/CHF fell off a cliff Monday, plunging off the 0.9625 level (intraday high), on the heels of weak economic data in the United States.
In the United States, ISM Manufacturing PMI (May) was reported at 49.0, against estimates of 50.5. Moreover, the Construction Spending (MoM) has grown +0.4% in April, missing projections calling for +0.8%.
Amidst this decline, the USD/CHF is operating negatively at 0.9556/58 in these moments, down a slight -0.05%. Mataf.net analysts identify the next short-term supports at the 0.9506 handle, then 0.9453, and finally 0.9393. Alternatively, a paring of recent losses will eventually lead to resistances at the 0.9619 level, onto 0.9679, and finally 0.9732.
In the United States, ISM Manufacturing PMI (May) was reported at 49.0, against estimates of 50.5. Moreover, the Construction Spending (MoM) has grown +0.4% in April, missing projections calling for +0.8%.
Amidst this decline, the USD/CHF is operating negatively at 0.9556/58 in these moments, down a slight -0.05%. Mataf.net analysts identify the next short-term supports at the 0.9506 handle, then 0.9453, and finally 0.9393. Alternatively, a paring of recent losses will eventually lead to resistances at the 0.9619 level, onto 0.9679, and finally 0.9732.