Forex: USD/CHF holds at 0.9600 level
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USD/CHF
FXstreet.com (Barcelona) - The USDCHF has fallen from its recently established intraday maximum (0.9617), dropping nearly 15 pips and holding presently at the 0.9600 level Monday morning during European trading. The pair seems to be confined to a 29-pip range, sandwiched between a pair of data releases in Germany, the next of which is scheduled at 8:00 GMT.
Earlier this morning, in Germany the Import Price Index (YoY) reported a growth of only 1.2% in the month of July, against consensus expectations of +1.4%. In addition Import Price Index (MoM) has grown only +0.7% in July, relative to estimates of +0.9%.
Ahead of the German data release, the pair is currently netting a +0.06% gain on the day. Mataf.net analysts have projected the pair's next resistances at 0.9627, 0.9654, and finally 0.9690. On the pullback, the USDCHF will engage support at 0.9564, then 0.9528, and ultimately 0.9501.
Earlier this morning, in Germany the Import Price Index (YoY) reported a growth of only 1.2% in the month of July, against consensus expectations of +1.4%. In addition Import Price Index (MoM) has grown only +0.7% in July, relative to estimates of +0.9%.
Ahead of the German data release, the pair is currently netting a +0.06% gain on the day. Mataf.net analysts have projected the pair's next resistances at 0.9627, 0.9654, and finally 0.9690. On the pullback, the USDCHF will engage support at 0.9564, then 0.9528, and ultimately 0.9501.
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