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Forex: USD/CHF trading positively at 0.9362/64 after Swiss CPI

FXstreet.com (Barcelona) - The USD/CHF has rebounded off its session lows earlier today during overnight trading, most recently bolstered by uneven economic data out of Switzerland. Having bottomed out at 0.9317 (session low), the pair is now settling at 0.9362/64, notching an advance of +0.12%.

ICN.com analysts identify corrective measures of resistance 0.9360, then 0.9375, and finally the 0.9400 upside barrier. Conversely, supports for the USD/CHF will initiate at 0.9320 onto 0.9290 and ultimately 0.9270.

According to the ICN.com Technical Analyst Team, “The USD/CHF is still stable below 38.2% correction at 0.9360 indicating a test for 50% correction at 0.9290 and perhaps 61.8% correction at 0.9230. In addition, linear regression indicators are negative as the pair broke the ascending channel. Finally, the MACD is also trading negatively which might extend the downside move.

In Switzerland, the Consumer Price Index (MoM) yielded a growth of only +0.2% in March, vs. a projected figure of +0.3%. In addition, the Consumer Price Index (YoY) contracted -0.6% in March, against expectations of -0.5%. Finally, Real Retail Sales (YoY) have climbed +2.4% in February, compared to a result of +2.0% in the previous month.

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