USD/CHF: Swiss Franc extends its gains in the morning session


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD declined 0.33% against the CHF and closed at 0.9092.

On the data front, Switzerland’s KOF leading indicator climbed to 85.7 in July, surpassing market forecast for a rise to a level of 75.0 and compared to a revised reading of 60.6 in the previous month.

In the Asian session, at GMT0300, the pair is trading at 0.9071, with the USD trading 0.23% lower against the CHF from yesterday’s close.

The pair is expected to find support at 0.9038, and a fall through could take it to the next support level of 0.9004. The pair is expected to find its first resistance at 0.9128, and a rise through could take it to the next resistance level of 0.9184.

Moving ahead, traders would keep an eye on Switzerland’s real retail sales for June, slated to release in a few hours.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.

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