USD/CHF trading at session lows at 0.9162

The USD/CHF nearly turned a corner overnight, having briefly threatened the 0.9200 level. However, since then the pair has been in a relative downturn, as the cross shifted into negative territory dragging the pair to session lows at 0.9162 in these moments. As the European session digests an earlier dose of German and Swiss data, the pair has incurred a loss of -0.18% Friday.

After swinging back into negative territory, Slobodan Drvenica, an analyst at Windsor Brokers Ltd., suggests the cross will be fortified by supports at 0.9150, down to 0.9120, and finally 0.9100 (key barrier). On the upside briefing any upside attempts, the USD/CHF will encounter means of calculated resistance at 0.9189, then 0.9200, and finally the 0.9220 handle.

According to Slobodan Drvenica, “The near-term bulls came back in play with the USD/CHF, as the price broke above the congestion level at 0.9120 finally and pierced the important resistance at 0.9200 (50% of 0.9387/0.9020 / daily Ichimoku cloud base). A sustained break here is required to confirm the near-term base and resume recovery towards next barriers at 0.9250 and 0.9300, while yesterday’s intraday high at 0.9148 was reinforced by the 10/55-day EMA’s bullish crossover.”

Earlier today in Switzerland, Real Retail Sales (YoY) grew +5.1% in December, beating a consensus of +3.2% and compared with a growth of +3.0% in the previous month.