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Forex: USD/CHF testing the 0.9300 level after Swiss producer prices

FXstreet.com (Barcelona) - The USD/CHF has been testing the 0.9300 level Tuesday, notably on the heels of some Swiss economic data. During European trading, the cross has managed to seesaw back and forth slightly, though is trading negatively in these moments, down -0.15%.

Mataf.net analysts reveal means of supportive correction at 0.9274, ahead of 0.9241, and 0.9214. Conversely, a break above 0.9334 will initiate supportive measures at 0.9361 and 0.9394.

“The USD/CHF is trading around 50% correction at the 0.9295 level that is a significant interval for the pair, whereas stability below it might trigger another push to the downside. In addition, the stochastic is showing a negative cross over supporting extending the Double Top Pattern.” warns the ICN.com analyst team.

In Switzerland, the Producer and Import Prices (MoM) came in at 0.0% in March, against expectations of -0.1%. Moreover, Producer and Import Prices (YoY) yielded a change of -0.3% in the month of March, matching a consensus of -0.3%.

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