USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.18% against the CHF and closed at 0.9757.
Meanwhile, data showed that Swiss trade surplus dropped to CHF 1.97 billion in April, from a revised trade surplus of CHF 3.04 billion in the previous month, as its industrial sector continued to struggle with the strong currency and pharmaceuticals exports slowed. Additionally, the nation’s exports fell 2.5% in April, compared to a revised rise of 1.8% last month. On the other hand, imports climbed 2.6% on a MoM basis, from a revised 0.6% rise in the prior month.
In the Asian session, at GMT0300, the pair is trading at 0.9759, with the USD trading marginally higher against the CHF from yesterday’s close.
The pair is expected to find support at 0.9719, and a fall through could take it to the next support level of 0.968. The pair is expected to find its first resistance at 0.9781, and a rise through could take it to the next resistance level of 0.9804.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
