USDCHF Movement
For the 24 hours to 23:00 GMT, the USD ended flat against the CHF and closed at 0.9237. In Switzerland, an official report confirmed that the nation’s trade balance registered a surplus of CHF2,380 million, defying market expectation for a surplus of CHF2,910 million and compared to a CHF2,819 million surplus registered in the previous month.
In the Asian session, at GMT0300, the pair is trading at 0.9245, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 0.9216, and a fall through could take it to the next support level of 0.9188. The pair is expected to find its first resistance at 0.9282, and a rise through could take it to the next resistance level of 0.9320.
With no major economic releases in the Switzerland, movement in Swiss Franc is expected to take cues from external factors.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
