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Forex: USD/CHF bounces off lows to 0.9324/25

FXstreet.com (Barcelona) - The USD/CHF has taken a tumble during European trading Friday, having received an unwelcome impetus from economic data in the EMU. On the heels of such a release, the cross is now trading at 0.9324/25, following a short rebound off session lows at 0.9314.

According to the Mataf.net Technical Analyst Team, the USD/CHF is slated to face short-term support at 0.9286, followed by 0.9227, and finally 0.9189. On the ascension, the pair will encounter means of resistance at 0.9383, then 0.9421, and 0.9480.

In the EMU, the Producer Price Index (YoY) came in at +0.7% in March, against expectations of only +0.6%. Moreover, the Producer Price Index (MoM) contracted -0.2%, matching estimates.

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