Fundamental Analysis

Switzerland's Trade Surplus Rose In September


For the 24 hours to 23:00 GMT, the USD declined 0.51% against the CHF and closed at 0.9762.

In economic news, Switzerland's trade surplus widened to CHF2.9 billion in September, after recording a revised surplus of CHF2.2 billion in the prior month.

In the Asian session, at GMT0300, the pair is trading at 0.9822, with the USD trading 0.61% higher against the CHF from yesterday's close.

The pair is expected to find support at 0.9757, and a fall through could take it to the next support level of 0.9691. The pair is expected to find its first resistance at 0.9868, and a rise through could take it to the next resistance level of 0.9913.

Going ahead, Switzerland's ZEW expectations index and the UBS consumption indicator, due to release next week, will be on investors' radar.

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

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GCI Financial
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