Forex Pros – The U.S. dollar rose against the Swiss franc on Wednesday, ahead of the release of key U.S. data on new home sales.
USD/CHF hit 1.0198 during European afternoon trade; a daily high; the pair subsequently consolidated at 1.0195, gaining 0.16%. The pair was likely to find support at 1.0008, last Monday’s low, and resistance at 1.1137, last Monday’s high.
Later Wednesday, the U.S. was set to release data on new home sales, a leading indicator of economic health. On Tuesday, official data showed that existing home sales in the U.S. fell 2.2% in May, undermining investor confidence in the strength of the global economic recovery.
The U.S. dollar was flat against the euro, meanwhile, with EUR/USD at 1.2270.
Later in the day, the U.S. Federal Reserve was to announce its benchmark interest rate, the Federal Funds Rate.
- Real Time Charts
- Forex Charts
- Futures Charts
- Stocks Charts
- Indices Charts
Add a Comment
Successfully Reported
Thank you. This comment has been flagged for a moderator.