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Forex: USD/CHF rises to 0.9466/69 after German IFO

FXstreet.com (Barcelona) - The USD/CHF moved higher Wednesday, paring its morning losses to trade at 0.9466/69 in these moments. At this juncture, the cross is positive, operating at session highs and notching an advance of +0.11%.

Briefing the technical levels, the Mataf.net analyst team identifies the next short-term supports for the USD/CHF at 0.9365, ahead of 0.9280, and ultimately 0.9332. Alternatively, a paring of losses will result in a testing of resistances at 0.9498, onto 0.9546, and finally 0.9631.

In Germany, the IFO – Business Climate came in at 104.4 in April, against expectations of 106.2. Moreover, the IFO – Current Assessment yielded a figure of 107.2 in April, vs. a projection of 109.5. Finally, IFO – Expectations were reported at 101.6 in the month of April, beating a consensus of 103.0.

“The USD/CHF managed to breach and stabilize with the previous four-hour candle closing above 0.9385 levels, achieving stop-loss expectations of the bearish move we referred to in our European session report. The upside move might extend higher at least if the pair can achieve stability above 0.9355.” predicts the ICN.com analysts team.

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