FxWirePro: USD/CHF pares losses, strong resistance seen at 0.9670 (cloud base)
USD/CHF halted its three back-to-back sessions of gains and dipped into negative territory in early European trades after positive Swiss GDP data buoyed CHF bulls Swiss real GDP growth for Q2 came in at 0.2 pct q/q vs fo…
USD/CHF halted its three back-to-back sessions of gains and dipped into negative territory in early European trades after positive Swiss GDP data buoyed CHF bulls
Swiss real GDP growth for Q2 came in at 0.2 pct q/q vs forecast of -0.1 pct, y/y growth was 1.2 pct vs forecast of 0.9 pct
US dollar also remains broadly weak after profit-taking was seen in the markets following the recent US GDP-led rally, aiding the downside
The pair halted its three back-to-back sessions of gains, struck session lows at 0.9623 on the data release
USD/CHF pared some losses and has edged higher to currently trade at 0.9643, strong resistance seen at cloud base by 0.9670, breaks above could see the pair at 0.9687 (21-DMA)
Supports on the downside are seen at 0.9540 (200 DMA) and further below at 0.9513 (Hourly Low Aug 27)
