BERN: For the 24 hours to 23:00 GMT, the USD rose 0.07% against the CHF and closed at 0.9707. In economic news, data revealed that Switzerland’s trade surplus narrowed to a level of CHF2.17 billion in August, as imports grew faster than exports. The nation registered a revised surplus of CHF3.49 billion in the previous month. Separately, the State Secretariat for Economic Affairs (SECO) lowered Switzerland’s economic growth forecast to 0.9% for this year, down from 1.4% projected earlier. In the Asian session, at GMT0300, the pair is trading at 0.9671, with the USD trading 0.37% lower against the CHF from yesterday’s close.
The pair is expected to find support at 0.9643, and a fall through could take it to the next support level of 0.9616. The pair is expected to find its first resistance at 0.9723, and a rise through could take it to the next resistance level of 0.9776. The currency pair is trading below its 20 Hr moving average and showing convergence with its 50 Hr moving average.
