USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.1% against the CHF and closed at 0.9628.
On the economic front, Switzerland’s trade surplus narrowed to a 3-month low level of CHF2.93 billion in July, compared to a revised surplus of CHF3.51 billion in the previous month. Meanwhile, the nation’s exports rebounded by 5.5% MoM in July, following a revised drop of 4.0% in the preceding month. Further, imports rose by 9.2% on a monthly basis in July, after recording a drop of 4.0% in the previous month.
In the Asian session, at GMT0300, the pair is trading at 0.9639, with the USD trading 0.11% higher against the CHF from yesterday’s close.
The pair is expected to find support at 0.9604, and a fall through could take it to the next support level of 0.9569. The pair is expected to find its first resistance at 0.9659, and a rise through could take it to the next resistance level of 0.9679.
Investors would now focus on Switzerland’s UBS consumption indicator data for July, slated to release in a while.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
