Forex Market: USD/CHF daily forecast

During Friday’s trading session USD/CHF traded within the range of 0.8800-0.8873 and closed at 0.8862.

At 6:56 GMT today USD/CHF was losing 0.02% for the day to trade at 0.8860. The pair touched a daily low at 0.8860 at 6:51 GMT.

Fundamental view

United States

The US Federal Budget Surplus probably expanded to $114 in April, after a $36.9 billion deficit in the previous month.

The monthly newsletter on revenue and expenditure of the United States Government (MTS) is prepared by the Office of Financial Management at the Ministry of Finance after approval by the Assistant Secretary of the Treasury. The newsletter covers the financial activities of the Federal Government and non- budgetary activities carried out in accordance with the budget of the U.S. government, ie revenue and expenditure of funds, deficit or surplus, which means cover the deficit or surplus allocation. The main information sources include accounting data reported by federal sources, tax and regional structures of FED.

The US Department of the Treasury will publish its report at 18:00 GMT.

Switzerland

Retail Sales in Switzerland probably rose 2.3 in March, following a 1% increase in the previous month.

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, in case USD/CHF manages to breach the first resistance level at 0.8890, it will probably continue up to test 0.8918. 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 0.8817, it will probably continue to slide and test 0.8772. With this second key support broken, the movement to the downside will probably continue to 0.8744.