USDCHF Movement
For the 24 hours to 23:00 GMT, USD declined 0.13% against the CHF and closed at 0.8494, as expectations for slower US growth and concerns over a possible restructuring of Greek sovereign debt supported demand for Swiss Franc.
In the Asian session, at 3:00GMT, the pair is trading at 0.8481, 0.15% lower from the yesterday’s close at 23:00 GMT.
The pair has its first short term resistance at 0.8522, followed by the next resistance at 0.8562. The first area of support is at 0.8451 levels, with the subsequent support at 0.8420.
Trading trends in the pair today are expected to be determined by release of data on gross domestic product in Switzerland.
The currency pair is showing convergence with its 20 Hr moving average and is trading just below its 50 Hr moving average.
