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18 Jun 2013
USD/CHF tumbles past support
FXstreet.com (New York) - The USD/CHF foreign exchange rate fell off a cliff Tuesday, breaking through support after the release of economic data in the EMU and Germany.
USD/CHF tumbles on European data
In the EMU, the ZEW Survey – Economic Sentiment (June) came in at 30.6, compared with a figure of 27.6. Meanwhile in Germany, the ZEW Survey – Economic Sentiment (June) was reported at 38.5, beating expectations of 38.1. Finally, the ZEW – Current Situation (June) yielded a figure of 8.6, missing estimates of 9.5.
In these moments, the pair is trading at 0.9180, down -0.49% below it’s opening. Following an earlier drop below the 0.9204 support, Mataf.net analysts identify the next short-term measures of correction at 0.9268, then 0.9181, and 0.9147. Meanwhile, resistance lies ahead at 0.9261, onto 0.9295, and 0.9318.
USD/CHF tumbles on European data
In the EMU, the ZEW Survey – Economic Sentiment (June) came in at 30.6, compared with a figure of 27.6. Meanwhile in Germany, the ZEW Survey – Economic Sentiment (June) was reported at 38.5, beating expectations of 38.1. Finally, the ZEW – Current Situation (June) yielded a figure of 8.6, missing estimates of 9.5.
In these moments, the pair is trading at 0.9180, down -0.49% below it’s opening. Following an earlier drop below the 0.9204 support, Mataf.net analysts identify the next short-term measures of correction at 0.9268, then 0.9181, and 0.9147. Meanwhile, resistance lies ahead at 0.9261, onto 0.9295, and 0.9318.