USD/CHF: Switzerland’s trade surplus widened in November


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD declined 0.70% against the CHF and closed at 0.9873.

On the macro front, Switzerland’s trade surplus widened to a level of CHF4.74 billion in November, compared to a revised surplus of CHF3.52 billion in the previous month.

In the Asian session, at GMT0400, the pair is trading at 0.9870, with the USD trading marginally lower against the CHF from yesterday’s close.

The pair is expected to find support at 0.9823, and a fall through could take it to the next support level of 0.9777. The pair is expected to find its first resistance at 0.9934, and a rise through could take it to the next resistance level of 0.9999.

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

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

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