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Forex: USD/CHF trading at 0.9534/35 after CPI data in EMU

FXstreet.com (Barcelona) - The USD/CHF has fallen in recent moments on the heels of economic data out of the EMU that was largely in like with projections Friday. The pair is now establishing session lows, though ultimately is still operating at a healthy margin above the 0.9400 mark. At the time of writing the cross is trading at 0.9434/35, down -0.39%.

In the EMU, the Consumer Price Index (MoM) rose +0.4% in February, against estimates of +0.4%. In addition, the Consumer Price Index (YoY) has notched an advance of +1.8% in the month of February, in line with expectations. The Consumer Price Index – Core (YoY) was reported at +1.3% in February, compared with +1.3% previously. Finally, Labor Cost (Q4) came in at +1.3%, relative to +1.8% in the previous quarter.

According to the Mataf.net Analyst team, any fall in the USD/CHF will be stymied by supports at 0.9427, then 0.9381, and ultimately 0.9311. Conversely, the pair will face calculated resistance at 0.9543, followed by 0.9613, ahead of 0.9659.

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