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Forex: USD/CHF trading positively at 0.9438/39

FXstreet.com (Barcelona) - The USD/CHF faced an early rise on the heels of the news surrounding Cyprus, and for the most part the pair has held onto its gains during the European and US session. Having reached an intraday maximum of 0.9489 earlier, the pair has now found itself trading at just 0.9438/39 at the time of writing, still in positive territory up +0.05%.

In the United States, the NAHB Housing Index (March) yielded a result of 44.0, against expectations of 47.0, and down from 46.0 previously.

According to the Mataf.net Analyst team, any rise in the USD/CHF will be stymied by resistances at 0.9486, then 0.9528, and ultimately 0.9581. Conversely, the pair will face calculated support at 0.9391, followed by 0.9338, ahead of 0.9296.

US: NAHB Housing Market Index eases to 44 in March

The March housing market index by NAHB eased from 46 to 44, contradicting the consensus for a rise to 47.
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The risk-off sentiment in reaction to Cyprus news allowed the USD/CAD to jump above the 1.0200 line but to find resistance at 1.0250 area. During the European session, the pair became weaker and has been retracing gains since then, having reached 1.0205.
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