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Forex: USD/CHF pares losses to 0.9580/83 after US retail

FXstreet.com (Barcelona) - The USD/CHF has rebounded off the 0.9546 level following what has been a disappointing session for the pair. Indeed, the cross has hung around in negative territory, unable to recover or extend the downside given the lack of drivers during the European session. In these moments the pair is trading at 0.9580/83 after the US data release, bar far the marquee event Monday.

In terms of the technicals, Mataf.net analysts point to supportive means for the USD/CHF at 0.9497, onto 0.9411, and ultimately 0.9345. Conversely, a break above the 0.9649 handle will initiate resistance at 0.9715 and 0.9801.

In the United States, Retail Sales (MoM) grew at a rate of +0.1% in April, against expectations of -0.3%, compared with -0.4%. In addition, Retail Sales ex Autos (MoM) were reported at -0.1% in April, matching. projections calling for -0.1%.

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