USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.35% against the CHF and closed at 0.9781.
In economic news, Switzerland’s trade surplus narrowed to CHF2.67 billion in July, amid fall in exports and compared to a surplus of CHF3.17 billion in the previous month.
In the Asian session, at GMT0300, the pair is trading at 0.9788, with the USD trading 0.07% higher against the CHF from yesterday’s close.
The pair is expected to find support at 0.9770, and a fall through could take it to the next support level of 0.9753. The pair is expected to find its first resistance at 0.9810, and a rise through could take it to the next resistance level of 0.9833.
Trading trend in the pair today is expected to be determined by Switzerland’s M3 money supply for July, slated to release in a few hours.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
