USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.18% against the CHF and closed at 0.9850.
In economic news, Switzerland’s trade surplus narrowed to a level of CHF 3.55 billion in June, following a revised trade surplus of CHF 3.78 billion in the prior month. The nation’s exports dropped 3.3% MoM in June, following a revised fall of 1.0% in the previous month. Further, imports fell by 4.0% on a monthly basis in June, after recording a revised decline of 0.6% in the previous month.
In the Asian session, at GMT0300, the pair is trading at 0.9849, 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 0.9796. The pair is expected to find its first resistance at 0.9891, and a rise through could take it to the next resistance level of 0.9932.
With no economic releases in Switzerland today, investor sentiment would be governed by global macroeconomic news.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
