USD/CHF: Swiss trade surplus widened in October, pair trading ...

GCI Forex News - USD/CHF: Swiss trade surplus widened in October, pair trading higher this morning

USDCHF Movement

For the 24 hours to 23:00 GMT, the USD declined 0.27% against the CHF and closed at 0.9403.

Switzerland?s trade surplus widened to CHF2.8 billion in October, from a revised CHF1.9 billion surplus in September. Meanwhile, on a monthly basis, exports slumped 16.5% in October, compared to a 2.9% rise in the previous month, while imports dropped 8.2% in October, following a 4.6% rise in the previous month.

In the Asian session, at GMT0400, the pair is trading at 0.9449, with the USD trading 0.48% higher from yesterday?s close.

The pair is expected to find support at 0.9408, and a fall through could take it to the next support level of 0.9366. The pair is expected to find its first resistance at 0.9474, and a rise through could take it to the next resistance level of 0.9500.

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

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Source: http://forexnews.gcitrading.com/currencies/usdchf/usdchf-swiss-trade-surplus-widened-in-october-pair-trading-higher-this-morning.htm

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