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Swiss Franc Trading A Tad Higher In The Asian Session

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Fundamental analysis of Forex market

For the 24 hours to 23:00 GMT, the USD declined 0.15% against the CHF and closed at 0.9988.

In the Asian session, at GMT0300, the pair is trading at 0.9989, with the USD trading marginally higher against the CHF from yesterday’s close.

The pair is expected to find support at 0.9968, and a fall through could take it to the next support level of 0.9948. The pair is expected to find its first resistance at 1.0022, and a rise through could take it to the next resistance level of 1.0056.

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Looking ahead, traders would keep an eye on Switzerland’s trade balance data June, slated to release in a while.

The currency pair is trading below its 20 Hr moving average and showing convergence with its 50 Hr moving average.