Forex: USD/CHF edges lower to 0.9338/39

FXstreet.com (Barcelona) - The USD/CHF has been sapped of all momentum Monday, despite having recently witnessed the publication of lackluster EMU economic data. “The pair’s unwillingness to break sharply in either direction, suggests a more sideways trend, leading to a neutral short-term outlook for the pair.” suggests Research Analyst Gareth Berry at UBS. In these moments, the pair has settled at 0.9338/39, down -0.14% thus far.

In the EMU, Sentix Investor Confidence (April) came in at -17.3, missing estimates, which called for a figure of only -13.1.

The Technical Analyst team at ICN.com analysts identifies the next corrective measures of support at 0.9300, ahead of 0.9245, and 0.9180. Regarding a paring of losses, resistances for the USD/CHF will activate should the pair reach 0.9400 onto 0.9465.