During Friday’s trading session USD/CHF traded within the range of 0.9032-0.9098 and closed at 0.9054, losing 0.41% for the day and 0.09% on a weekly basis.
At 6:10 GMT today USD/CHF was adding 0.07% for the day to trade at 0.9060. The pair touched a daily high at 0.9064 at 2:20 GMT.
Fundamental view
Retail Sales in the country probably rose 0.3% in July compared to a year ago, following an unexpected 0.6% drop in the previous month, that was the biggest since September 2011.
The index measures the change in the value of sales made by retailers in the country. The amount of sales includes indirect taxes, but without discounts. Revenue from wholesale and the provision of those services are not included. The study includes 850 different business activities. Dealers of vehicles are also included, with the exception of those selling motorcycles. This is the percentage change compared to the corresponding month of the previous year.
The Federal Statistical Office will publish an official report at 07:15 GMT.
Technical view
According to Binary Tribune’s daily analysis, the central pivot point for the pair is at 0.9061. In case USD/CHF manages to breach the first resistance level at 0.9091, it will probably continue up to test 0.9127. In case the second key resistance is broken, the pair will probably attempt to advance to 0.9157.
If USD/CHF manages to breach the first key support at 0.9025, it will probably continue to slide and test 0.8995. With this second key support broken, the movement to the downside will probably continue to 0.8959.
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