21 Jul 2015
USD/CHF supported at 0.9605
FXStreet (Mumbai) - The Swiss franc continues to outperform its US counterpart in the European session, as the CHF bulls ride higher on the wave of widening trade balance which surprised on the upside. While profit-taking on USD longs also added to the downslide in USD/CHF.
USD/CHF falls further from 0.9633
Currently, the USD/CHF pair trades -0.33% lower at 0.9615, retreating slightly from 0.9605 session lows. The USD/CHF pair extended losses this session as the Swiss currency continued to remain supported on better than expected Switzerland’s trade data.
Switzerland's trade surplus widened in June according to the latest report released on Tuesday. The trade surplus amounted to ₣3.58 billion in the reported month, compared with a revised ₣3.41 billion registered in the previous month. Market had projected a ₣2.80 billion surplus in June.
Adding to the losses in USD/CHF, the US dollar remains broadly sold-off on a profit-booking spree after the recent strength backed by hawkish comments from the Fed officials.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9658 (July 20 High) levels and above which it could extend gains 0.9700 levels. To the downside, immediate support might be located at 0.9595 (July 20 Low) levels and below that at 0.9551 (July 17 Low) levels.
USD/CHF falls further from 0.9633
Currently, the USD/CHF pair trades -0.33% lower at 0.9615, retreating slightly from 0.9605 session lows. The USD/CHF pair extended losses this session as the Swiss currency continued to remain supported on better than expected Switzerland’s trade data.
Switzerland's trade surplus widened in June according to the latest report released on Tuesday. The trade surplus amounted to ₣3.58 billion in the reported month, compared with a revised ₣3.41 billion registered in the previous month. Market had projected a ₣2.80 billion surplus in June.
Adding to the losses in USD/CHF, the US dollar remains broadly sold-off on a profit-booking spree after the recent strength backed by hawkish comments from the Fed officials.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9658 (July 20 High) levels and above which it could extend gains 0.9700 levels. To the downside, immediate support might be located at 0.9595 (July 20 Low) levels and below that at 0.9551 (July 17 Low) levels.