USD/CHF off session lows

US dollar pulled back from session lows against the Swiss franc on Friday amid uncertainty over FEDs plans, regarding stimulus.

USD/CHF fell down to a session low at 0.9422 at 11:22 GMT, after which consolidation followed at 0.9438. The cross was down by 0.17% for the day. Support was expected in the 0.9410-0.9420 range, while resistance was to be met in the 0.9485-0.9505 zone.

Earlier today reports showed that KOF (Konjunkturforschungsstelle) Leading Indicator in Switzerland advanced to 1.16 in June from 1.09 during the previous month. Preliminary estimates stated an increase to 1.19. This indicator outlined a positive prospects for Swiss economy. Experts from KOF said last week, that countrys economy was to gain momentum during the remaining months of 2013, as strong interior demand would be the major driving force. GDP was expected to expand by 1.4% during this year.

Meanwhile, US data, released on Thursday, bolstered uncertainty over the future moves by FED. US Personal Spending rose by 0.3% in May in line with preliminary estimates. Core Personal Consumption Expenditures (PCE) Price Index registered the same rate of increase in May 2013, compared to May 2012, 1.1%, as was during the preceding period. Initial Jobless Claims in the country decreased to 346 000 during the week, ending on 22.06.2013, while experts had projected that claims would fall to 345 000.