USD/CHF: Swiss Franc trading on positive footing this morning

USDCHF

USDCHF Movement

For the 24 hours to 23:00 GMT, the USD rose 0.19% against the CHF and closed at 0.9951.

On the macro front, Switzerland’s trade surplus widened to CHF3.75 billion, compared to a revised surplus of CHF2.23 billion in the previous month.

In the Asian session, at GMT0400, the pair is trading at 0.9945, with the USD trading 0.06% lower against the CHF from yesterday’s close.

The pair is expected to find support at 0.9917, and a fall through could take it to the next support level of 0.9888. The pair is expected to find its first resistance at 0.9966, and a rise through could take it to the next resistance level of 0.9986.

Going ahead, investors would await Switzerland’s M3 money supply for October, slated to release in a while.

The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.

This entry was posted in USD/CHF. Bookmark the permalink.

Comments are closed.