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Forex pairs in this Article » USD/CHF
FXstreet.com (New York) - The USD/CHF foreign exchange rate has traded unevenly Monday, albeit clinging to positive territory during European trading after the release of EMU data.

USD/CHF wanes slightly on heels of mixed data

In the EMU, Labor Costs (Q1) came in at +1.6%, compared with a figure of +1.3% previously. Moreover, the Trade Balance n.s.a. yielded a figure of €14.9B in April, missing estimates of €18.5B. Finally, the Trade Balance s.a. gave a result of €16.1B, vs. a projection of €21.1B.

In these moments, the pair is trading at 0.9225, up +0.07% above it’s opening. Outlining the technicals, Mataf.net analysts identify the next short-term resistances at 0.9268, then 0.9306, and 0.9342. Meanwhile, support lies below at 0.9194, ahead of 0.9158, and 0.9120.

USD/CHF negative below 0.9340

According to the Technical Analyst Team at ICN.com, “The USD/CHF pair stabilized below the ascending support connecting A with B of the bearish harmonic pattern. Prolonged stability below the 0.9340 level keeps the negative possibility this week, however the pair has to stabilize below 0.9205 to trigger the bearish wave.”
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