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FXstreet.com (Barcelona) - The pair has spent much of the Asian session entrenched in negative territory, on the heels of an indicator release in Switzerland and a rather muted morning across Europe. Having bottomed out in the region of 0.9772 (daily minimum), the USD/CHF has pared the majority of its losses and briefly crossed over into positive territory in these moments.

In terms of some notable economic indicators that are pertinent to the pair's movements, the UBS Consumption Indicator in Switzerland reported a figure of 1.60 in the month of June, against a value of 1.02 in the previous month. In addition, mixed retail sales in Germany have rounded out an otherwise quiet morning during European trading. Retail Sales (MoM, YoY) came in at -0.1% in June (vs. a consensus of +0.5%) and +2.9% in June (against a consensus of only +0.4%) respectively.

Briefing the technicals, "The pair's hourly indicators are weakly bearish, however the price is congruent with the daily calculated range, so a cautious approach is still warranted for bears - we expect the price to be choppy with the potential to break lower." writes Research Analyst Rajoo C. at Precise Trader. The USD/CHF is currently trading in the region of 0.9793, still notching a -0.02% loss on the day. The technical analysts at Mataf.net identify the next short-term supports at 0.9767, 0.9737, and finally 0.9709. Conversely, the resistances are located at 0.9825, 0.9853, and ultimately 0.9883.

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