USD/CHF: Switzerland’s KOF leading indicator advanced more-than-expected in July


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD rose 0.45% against the CHF and closed at 0.9688 on Friday.

Macroeconomic data showed that Switzerland’s KOF leading indicator climbed to a level of 106.8 in July, compared to a revised reading of 105.8 in the previous month, while markets were expecting it to rise to a level of 106.0.

In the Asian session, at GMT0300, the pair is trading at 0.9685, with the USD trading slightly lower against the CHF from Friday’s close.

The pair is expected to find support at 0.9645, and a fall through could take it to the next support level of 0.9605. The pair is expected to find its first resistance at 0.9726, and a rise through could take it to the next resistance level of 0.9767.

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

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