Fundamental Analysis of USD/CHF for August 25, 2017

USD/CHF is currently residing in a corrective volatile structure after bouncing off from the resistance level of 0.9770. Recently due to mixed economic reports, USD could not gain much momentum to break above the resistance level whereas CHF also showed positive economic reports this week which also helped the currency to hold USD for further gains as well. Recently CHF Trade Balance report was published which showed an increase to 3.51B from the previous figure of 2.76B which was expected to be at 2.88B. As the Trade Balance is the figure of export and import whereas an increased figure denotes to increase in export in comparison to importing which helps to develop the economy. On the USD side, today Core Durable Goods Orders report is going to be published which is expected to increase to 0.4% from the previous value of 0.1% and Durable Goods Orders report is expected to be negative at -6.0% from the previous positive value of 6.4%. Though the expectations are quite mixed today for USD any positive report with greater gap will provide the chance of breaking above the resistance in the coming days or else CHF will continue its gains further.

Now let us look at the technical view, the price is currently residing below 0.9770 resistance level and dynamic level of 20 EMA as well. As the price has been quite impulsive with the bearish pressure recently the pair is expected to have further bearish price action towards 0.9450 in the coming days. As the price remains below the 0.9770 resistance level the bearish bias is expected to continue further.

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