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5 Jun 2013
USD/CHF tumbles to 0.9533/37 after ADP figures in US
FXstreet.com (Barcelona) - The USD/CHF plunged another 30 pips after the release of soft US data Wednesday, dragging the pair to session lows at 0.9422 during US trading.
In the United States, the ADP Employment Change (May) came in at 135K, missing expectations of 165K. In addition, Nonfarm Productivity (Q1) yielded a figure of +0.5%, vs. projections calling for +0.7%. Finally, the Unit Labor Costs fell -4.3% in Q1, against estimates of +0.5%.
Amidst this pullback, the USD/CHF managed to recover the mark of 0.9533/37, still trading negatively at -0.30% at the time of writing. Mataf.net analysts identify the next short-term supports at 0.9452, then 0.9419, and finally 0.9385. Alternatively, a break above 0.9519 will initiate resistances at 0.9553 and 0.9586.
In the United States, the ADP Employment Change (May) came in at 135K, missing expectations of 165K. In addition, Nonfarm Productivity (Q1) yielded a figure of +0.5%, vs. projections calling for +0.7%. Finally, the Unit Labor Costs fell -4.3% in Q1, against estimates of +0.5%.
Amidst this pullback, the USD/CHF managed to recover the mark of 0.9533/37, still trading negatively at -0.30% at the time of writing. Mataf.net analysts identify the next short-term supports at 0.9452, then 0.9419, and finally 0.9385. Alternatively, a break above 0.9519 will initiate resistances at 0.9553 and 0.9586.