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20 May 2013
USD/CHF losses mount below 0.9700 handle
FXstreet.com (Barcelona) - The USD/CHF managed to lose its grip on the 0.9700 level, thereby falling lower in recent minutes to notch fresh session lows at 0.9676/82, following the release of Italian data during European trading.
Presently, the USD/CHF has become entrenched in negative territory, down -0.24%. Mataf.net analysts point to supportive means for the USD/CHF at 0.9648, onto 0.9580, and ultimately 0.9524. Conversely, a break above the 0.9772 handle will initiate resistance at 0.9822 and 0.9896.
In Italy, Industrial Orders n.s.a. (YoY) came in at -10.0% in March, compared with only -7.9% previously. Moreover, Industrial Orders s.a. (MoM) yielded a growth of +1.6%, improving from -2.5% in the previous quarter. Finally, Industrial Sales n.s.a. (YoY) declined -7.6% in the March quarter, relative to a figure of -6.0% previously.
Presently, the USD/CHF has become entrenched in negative territory, down -0.24%. Mataf.net analysts point to supportive means for the USD/CHF at 0.9648, onto 0.9580, and ultimately 0.9524. Conversely, a break above the 0.9772 handle will initiate resistance at 0.9822 and 0.9896.
In Italy, Industrial Orders n.s.a. (YoY) came in at -10.0% in March, compared with only -7.9% previously. Moreover, Industrial Orders s.a. (MoM) yielded a growth of +1.6%, improving from -2.5% in the previous quarter. Finally, Industrial Sales n.s.a. (YoY) declined -7.6% in the March quarter, relative to a figure of -6.0% previously.