A small Minus instead of a recovery: USD/CHF is stuck

FXStreet – Although the currency pair USD/CHF from the session lows in the first hour of the American business by 30 Pips has been able to recover, could the Momentum does not continue to travel because of the risk appetite partout is not on the international financial markets return want. The Couple listed recently on 0,9754 and to 0.25 percent in the Minus.

In early European business, the economy, markets scoreboard was published by the KOF, which fell in may 2017 to 4.7 points to 101.6 points. Thus, the expectations have not been met. With a further high demand for Swiss franc (CHF) was able to win the currency pair. At the same time it went deeper for the stock markets, a floor, and left the investors into safe havens to escape.

In the United States, published economic data could not help the Greenback, however, on the jumps. Even though consumer spending and incomes improved in April, was able to stage the PCE price index is no recreation in the direction of the target value of 2 percent, which is why the US Dollar Index reacted only briefly with price premiums. This is listed last even 0.04 per cent lower 97.30.

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Technical Outlook

In spite of yesterday’s rebound, the currency to stabilize the pair is not possible above the psychologically important mark of 0,9800, why now, further losses in the direction of 0,9730 (static level), 0,9690 (Deep 22. May) and 0,9640 (Deep 29. September) are to be expected. Resistances now lie at 0,9800, 0,9845 (38,2% Fibo) and 0,9900 (Psychological mark).

** FXStreet News Editorial, FXStreet**

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