FxWirePro: USD/CHF edges lower, upbeat Swiss trade data boosts CHF
Tuesday, July 21, 2015 7:24 AM UTC
- Data today showed Swiss trade surplus widened in June to 3578 mln SFR vs revised 3409 mln SFR in previous month
- CHF received fresh impetus from trade data, USD/CHF edged slightly lower in the European morning
- The pair is currently trading at 0.9632, after hitting a low of 0.9627 on the day
- Daily Stochs show bearish crossover at overbought levels, correction could extend lower
- But downside in the pair looks limited as the broad based US dollar strength to keep the pair supported
- Immediate resistance is located at 0.9658 (July 20 High) while support on the downside might be located at 0.9595 (July 20 Low) and then at 0.9551 (July 17 Low)
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