Although the U.S. dollar moved higher against the Swiss franc earlier this week, USD/CHF reversed and declined after investors took profits from the greenback’s recent rally. But did this move change anything in the overall picture of the exchange rate?

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Yesterday, the Commerce Department reported that new home sales increased by 16.6% in the previous month, which pushed the USD Index to its highest level since Mar 29. Although the index moved little lower earlier today, it still remains around yesterday’s peak. What impact did this increase have on the euro, Canadian and Australian dollar?

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Earlier today, the German ZEW showed that its economic sentiment index declined sharply to 6.4 in May, missing expectations for an increase to 12. Thanks to these disappointing reading, the euro moved lower against the greenback and approached the next support zone. Will it stop further declines in the coming days.

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Earlier today, the preliminary reading of the euro zone composite purchasing managers’ index showed a drop to a 16-month low of 52.9 in May, which pushed the euro lower against the greenback and resulted in invalidation of earlier small breakout above the resistance line. What happened at the same time with our other currency pairs?

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Yesterday, the USD Index extended gains and climbed above the Apr highs, which pushed USD/CHF to the next resistance zone. Will it manage to stop currency bulls in the coming week?

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