USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.31% against the CHF and closed at 0.9896 on Friday.
Data revealed that Switzerland’s KOF leading indicator fell to a level of 91.5 in August, more than market consensus for a drop to a level of 95.2. In the prior month, the indicator had recorded a revised reading of 97.0.
In the Asian session, at GMT0300, the pair is trading at 0.99, with the USD trading slightly higher against the CHF from Friday’s close.
The pair is expected to find support at 0.9873, and a fall through could take it to the next support level of 0.9847. The pair is expected to find its first resistance at 0.9922, and a rise through could take it to the next resistance level of 0.9945.
Trading trend in the Swiss Franc today, is expected to be determined by Switzerland’s real retail sales for July and the Markit manufacturing PMI for August, set to release in a while.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
