Forex: USD/CHF stalled at 0.9450 despite French and German GDP
Forex pairs in this Article »
USD/CHF
FXstreet.com (Barcelona) - The preliminary release of French and German GDP for Q3 showed easing figures for both countries, with exception to the French quarterly change, up by +0.2% in Q3, instead improving from -0.1% to 0.0% as expected. In Q3, the French GDP eased from 0.3% to 0.2% annualized growth, and the German economy saw its growth softening from 0.5% to 0.4%, instead of rising to 0.8% as forecast.
The USDCHF rose on the figures, but 0.9450 resistance is keeping the pair trading back and forth. The pair has been softening since the 0.9463 high and edges higher on the day.
"The market is correcting lower very near term and while we would allow for further near term losses, we would expect to see dips back remain quite shallow - dips will find support at initially at 0.9380 ahead of 0.9352 (support line), which is expected to contain the downside", wrote analyst Karen Jones, pointing to a target at around 0.9620 and other at 0.9594.
The USDCHF rose on the figures, but 0.9450 resistance is keeping the pair trading back and forth. The pair has been softening since the 0.9463 high and edges higher on the day.
"The market is correcting lower very near term and while we would allow for further near term losses, we would expect to see dips back remain quite shallow - dips will find support at initially at 0.9380 ahead of 0.9352 (support line), which is expected to contain the downside", wrote analyst Karen Jones, pointing to a target at around 0.9620 and other at 0.9594.
Free Annual Reports
