USD/CHF: Switzerland’s ZEW survey expectations fell in July


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD declined 0.63% against the CHF and closed at 0.9122.

On the data front, Switzerland’s ZEW survey expectations dropped to 42.4 in July, less than market expectations for a drop to a level of 39.4 and compared to a reading of 48.7 in the previous month.

In the Asian session, at GMT0300, the pair is trading at 0.9126, with the USD trading marginally higher against the CHF from yesterday’s close.

The pair is expected to find support at 0.9099, and a fall through could take it to the next support level of 0.9073. The pair is expected to find its first resistance at 0.9170, and a rise through could take it to the next resistance level of 0.9215.

Moving ahead, traders would keep a watch on Switzerland’s KOF leading indicator for July, slated to release in a few hours.

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

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