Sasha Singh
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USDCHF : Might Find Support at .8780

In my previous blog about USDCHF I wrote that the pair is trading within a rising channel and might find support from the support trend line but the pair broke the support trend line and continued to decline. The pair also broke the support at .8790 and now the next support level the pair may find is at .8780. 

Another report on US jobless claims showed that the number of people filing for unemployment benefits rose by 14000 to a nine week high reading of 344K which economists were expecting to fall to 330K. 

However a separate report showed that the consumer spending in March rose .9% which is the largest increase since August 2009 and personal income rose by .5% which economists were expecting to increase by .7% and .5% respectively. 

The pair is steady after the mixed data and might not move down further.