USD/CHF: Switzerland’s trade surplus narrowed in March


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD rose 0.09% against the CHF and closed at 1.0155.

On the macro front, Switzerland’s seasonally adjusted trade surplus narrowed to CHF1.99 billion in March, following a revised surplus of CHF2.49 billion in the prior month.

In the Asian session, at GMT0300, the pair is trading at 1.0159, with the USD trading marginally higher against the CHF from yesterday’s close.

The pair is expected to find support at 1.0148, and a fall through could take it to the next support level of 1.0137. The pair is expected to find its first resistance at 1.0167, and a rise through could take it to the next resistance level of 1.0175.

Trading trend in the Swiss Franc today, is expected to be determined by Switzerland’s M3 money supply for March, scheduled to release in a while.

The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.

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