USD/CHF: Switzerland’s real retail sales declined in August


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD rose 0.4% against the CHF and closed at 0.9743.

Macroeconomic data indicated that Switzerland’s real retail sales slid 0.2% on an annual basis in August, after recording a revised flat reading in the prior month.

On the contrary, the nation’s SVME manufacturing PMI unexpectedly climbed to a level of 61.7 in September, defying market consensus for a drop to a level of 60.5 and compared to a reading of 61.2 in the previous month.

In the Asian session, at GMT0300, the pair is trading at 0.9775, with the USD trading 0.33% higher against the CHF from yesterday’s close.

The pair is expected to find support at 0.9713, and a fall through could take it to the next support level of 0.9650. The pair is expected to find its first resistance at 0.9811, and a rise through could take it to the next resistance level of 0.9846.

Amid no macroeconomic releases in Switzerland today, investors will look forward to global macroeconomic events for further direction.

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

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