USD/CHF: Retreats To Fresh Intraday Low On Poor US Data

Spot has moved back into the 1.21's in the wake of the latest poor US housing numbers. Bids in USD/CHF into the 1.2200 area were attempting to prop the downside but macro account sales have forced USD/CHF lower and rates have just printed fresh session and intraday lows at 1.2161. Any clear break below 1.2160 will put a negative bias on the pair intraday and see the Franc look to probe back for a retest of the 1.2114 bounce low from Friday.