USD/CHF: Swiss Franc trading marginally higher this morning


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD rose 0.22% against the CHF and closed at 0.9673.

On the macro front, Switzerland’s producer and import prices unexpectedly fell 0.1% MoM in June, compared to market expectations for a flat reading. The producer and import price index had dropped 0.3% in the prior month.

In the Asian session, at GMT0300, the pair is trading at 0.9668, with the USD trading a tad lower against the CHF from yesterday’s close.

The pair is expected to find support at 0.9627, and a fall through could take it to the next support level of 0.9586. The pair is expected to find its first resistance at 0.9698, and a rise through could take it to the next resistance level of 0.9728.

Going forward, investors will keep a close watch on Switzerland’s trade balance data for June, the sole important release next week.

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

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