USD/CHF: Swiss Franc trading on a weaker footing, ahead of key economic releases in Switzerland


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD declined 0.18% against the CHF and closed at 0.9656.

In the Asian session, at GMT0300, the pair is trading at 0.9668, with the USD trading 0.12% higher against the CHF from yesterday’s close.

The pair is expected to find support at 0.9638, and a fall through could take it to the next support level of 0.9609. The pair is expected to find its first resistance at 0.969, and a rise through could take it to the next resistance level of 0.9713.

Ahead in the day, traders will closely monitor Switzerland’s SECO consumer confidence and SVME–PMI, both for July along with retail sales data for June.

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

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