USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.32% against the CHF and closed at 0.9631, following positive economic data in the US.
Yesterday, the Swiss KOF Economic Institute upgraded Switzerland’s economic growth forecast and expected it to expand 0.2% in 2015, from its previous estimation of 0.5% contraction. It also estimated that the Swiss economy would grow 1.0% in 2016, despite the country feeling the effects of the Strong Franc.
In the Asian session, at GMT0400, the pair is trading at 0.9646, with the USD trading 0.15% higher from yesterday’s close.
The pair is expected to find support at 0.9538, and a fall through could take it to the next support level of 0.9430. The pair is expected to find its first resistance at 0.9706, and a rise through could take it to the next resistance level of 0.9767.
Amid no economic releases in Switzerland today, investor sentiment would be governed by global macroeconomic news.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
