Against a tense situation in the national economy, the USD/CHF pair demonstrates unstable dynamics, trading around 0.9663.
Switzerland's trade balance will be published tomorrow, which could fall to annual lows of 2.9B francs due to the continued rise in the cost of imports: this figure added 8.6% in August compared to last year's value. The State Secretariat for Economic Affairs (SECO) will publish fresh economic forecasts, which will reflect the situation with inflation, which due to rising import prices, may increase to 3.3–3.5% this month, which is another anti-record for the country.
The US dollar continues to impact the USD/CHF pair significantly, trading at 109.500 in the USD Index, close to a yearly high. Friday's data from the University of Michigan was taken by investors neutrally: the economic expectations index in September was 59.9 points, up from 58.0 points in August, and the consumer sentiment indicator was 59.5 points, better than 58.2 points a month earlier. The index of current conditions was slightly lower but exceeded the August values, amounting to 58.9 points against 58.6 points earlier.
On the daily chart, the price is correcting within the downwards corridor, falling towards the support line.
Technical indicators keep a sell signal, which has weakened due to an upward correction: fast EMAs on the Alligator indicator are below the signal line, and the AO oscillator histogram has formed another downward bar in the sell zone.
Resistance levels: 0.9700, 0.9843. | Support levels: 0.9587, 0.9410.