USD/CHF: Swiss Franc trading higher in the morning session


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD declined 0.08% against the CHF and closed at 0.9673.

On the data front, Switzerland’s total sight deposits remained steady at a level of CHF579.1 billion in the week ended 28 July.

In the Asian session, at GMT0300, the pair is trading at 0.9667, with the USD trading 0.06% lower against the CHF from yesterday’s close.

The pair is expected to find support at 0.9632, and a fall through could take it to the next support level of 0.9596. The pair is expected to find its first resistance at 0.9708, and a rise through could take it to the next resistance level of 0.9748.

Amid a holiday observed in Switzerland today, trading trend in the CHF will be governed by global macroeconomic news.

The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.

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