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23 Apr 2015
USD/CHF: Gains capped at 50-DMA
FXStreet (Mumbai) - The USD/CHF pair saw its gains being capped by 50-DMA located at 0.9712, after the data in Switzerland showed a trade surplus advanced in March.
USD/CHF turns negative at 0.9690
The pair now trades at 0.9690; down 0.22% for the day. The Swiss franc was supported by a rise in Trade surplus to CHF 2.52 billion in March, compared with a downwardly revised CHF 2.32 billion registered in the previous month. Analysts had predicted a surplus of CHF 2.12 billion.
The rise in surplus supported CHF, although the pair seems to have steadied around 0.9690 as the previous month’s trade surplus was revised lower.
USD/CHF Technical Levels
The immediate support is seen at 0.9643 (hourly 100-MA), under which the pair could dip to 0.96. On the flip side, a resistance is seen at 0.9712 (50-DMA) and 0.9755 (Mar. 31 high).
USD/CHF turns negative at 0.9690
The pair now trades at 0.9690; down 0.22% for the day. The Swiss franc was supported by a rise in Trade surplus to CHF 2.52 billion in March, compared with a downwardly revised CHF 2.32 billion registered in the previous month. Analysts had predicted a surplus of CHF 2.12 billion.
The rise in surplus supported CHF, although the pair seems to have steadied around 0.9690 as the previous month’s trade surplus was revised lower.
USD/CHF Technical Levels
The immediate support is seen at 0.9643 (hourly 100-MA), under which the pair could dip to 0.96. On the flip side, a resistance is seen at 0.9712 (50-DMA) and 0.9755 (Mar. 31 high).