USD/CHF: Switzerland’s trade surplus narrowed sharply in December


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD rose 0.26% against the CHF and closed at 0.9946, amid surge in exports.

Data showed that Switzerland’s trade surplus sharply narrowed to CHF1.8 billion in December, after exports rose to a decade high level. In the preceding month, the nation posted a revised surplus of CHF4.7 billion.

In the Asian session, at GMT0400, the pair is trading at 0.9954, with the USD trading 0.08% higher against the CHF from yesterday’s close.

The pair is expected to find support at 0.9922, and a fall through could take it to the next support level of 0.9891. The pair is expected to find its first resistance at 0.9971, and a rise through could take it to the next resistance level of 0.9989.

Trading trend in the Swiss Franc today is expected to be determined by Switzerland’s KOF leading indicator for January, scheduled to release in a while.

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

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