USD/CHF: Swiss franc boosted on upbeat data

FXStreet (Mumbai) - The US dollar keeps losses versus the Swiss franc in the European morning, pushing USD/CHF way from 0.95 handle. The major dropped to fresh lows after the Swiss franc regained strength, boosted by better than estimates Switzerland’s trade surplus data.

USD/CHF keeps below 0.9500

Currently, the USD/CHF pair trades -0.25% lower at fresh session lows of 0.9466, retracing from 0.95 handle. The pair extends declines as the Swiss franc remains boosted after the trade surplus in the Alpine economy increased in April, beating projections.

The trade surplus amounted to ₣2.86 billion in April, compared with a revised ₣2.50 billion registered in March. Market had projected a higher ₣2.77 billion surplus in April.

Meanwhile, sliding greenback across the board also added to the losses in the USD/CHF pair. The dollar index which measures the greenback’s strength against its major peers, now trades near session lows at 97.15, recording a -0.18% loss on the day. Markets now await US macro releases for further incentives on the pair.

USD/CHF Technical Levels

To the upside, the next resistance is located at 0.9520 levels and above which it could extend gains to 0.9540 levels. To the downside, immediate support might be located at 0.9450 levels and below that at 0.9400 levels.