During yesterday’s trading session USD/CHF traded within the range of 0.8872-0.8924 and closed at 0.8878.
At 6:44 GMT today USD/CHF was losing 0.04% for the day to trade at 0.8876. The pair touched a daily low at 0.8872 at 6:11 GMT.
Annualized retail sales in Switzerland probably rose at a pace of 0.9% in February, according to the median estimate by experts, following another 0.3% climb in January. This indicator reflects the change in the total value of inflation-adjusted sales by retailers in the country and provides key information regarding consumer spending trend, while the latter is a major driving force behind economic growth. In case retail sales increased at a faster than expected pace, this would provide support to the franc. The Federal Statistical Office is expected to release the official report at 7:15 GMT.
According to Binary Tribune’s daily analysis, in case USD/CHF manages to breach the first resistance level at 0.8911, it will probably continue up to test 0.8943. In case the second key resistance is broken, the pair will probably attempt to advance to 0.8963.
If USD/CHF manages to breach the first key support at 0.8859, it will probably continue to slide and test 0.8839. With this second key support broken, the movement to the downside will probably continue to 0.8807.