USD/CHF after the US data on the rise

FXStreet – After positive macro data from the United States, for the currency pair USD/CHF made a Beeline to the top. Then it broke out of the sideways range and brought his total losses. Most recently, the Couple listed on 0,9750 and to 0.27 per cent in the Plus.

In the United States, the GDP for the first quarter, according to the second estimate of 1.2 percent. The U.S. Commerce Department said that have changed the General picture of Growth, but the fact that the personal consumption expenditure has risen, suggests that the economy is in good shape.

Other economic data showed that new orders fell after the strong rise by the reporting month of March to -0.7 percent, but still above the expectations of -1.4 percent were. The US Dollar Index, which was driven by the solid Mix, jumped to a new week high at 97,42. The Index was 0.23 per cent in the Plus and listed on 97,36. In less than ten minutes from the University of Michigan collected, consumers will be published trust. A positive result along with a higher risk appetite could push the currency pair further to the North.

Chart analysis

In spite of the increase in the Price of the currency pair in a horizontal channel on a daily basis. The RSI indicator is currently testing in the 4-hour chart, the 50-point mark, which suggests that the bulls are likely in the short term to take control. The High of 24. May 0,9775 offers first resistance. Further barriers are targets 0.9850 (High-17. May) and 0,9900 (psychological mark). On the bottom of the psychological mark define at 0,9700, the Low of 29. September at 0,9640, and the round mark of 0,9600 the next supports.

** FXStreet News Editorial, FXStreet**

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