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


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD remained flat against the CHF and closed at 0.9589 on Friday.

Data indicated that Switzerland M3 money supply advanced 2.5% on an annual basis in August, compared to a rise of 2.4% in the prior month.

In the Asian session, at GMT0300, the pair is trading at 0.9596, with the USD trading 0.07% higher against the CHF from Friday’s close.

The pair is expected to find support at 0.9559, and a fall through could take it to the next support level of 0.9523. The pair is expected to find its first resistance at 0.9615, and a rise through could take it to the next resistance level of 0.9635.

Moving ahead, traders would await Switzerland’s total sight deposits, due in a few hours.

The currency pair is trading between its 20 Hr and 50 Hr moving averages.

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