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


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD declined 0.80% against the CHF and closed at 0.9072.

In economic news, Switzerland’s trade surplus widened to CHF3.4 billion in July, compared to a revised surplus of CHF3.2 billion in June.

In the Asian session, at GMT0300, the pair is trading at 0.9072, with the USD trading flat against the CHF from yesterday’s close.

The pair is expected to find support at 0.9039, and a fall through could take it to the next support level of 0.9007. The pair is expected to find its first resistance at 0.9131, and a rise through could take it to the next resistance level of 0.9191.

Amid no macroeconomic releases in Switzerland today, investor sentiment would be governed by global macroeconomic factors.

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

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