USDCHF Movement
For the 24 hours to 23:00 GMT, USD declined 0.59% against the CHF and closed at 0.9227.
Fitch ratings agency has affirmed its AAA credit rating for the US, but revised its outlook from ‘Stable’ to ‘Negative’, after the US Congressional committee failed to agree deficit cuts.
In the Asian session, at GMT0400, the pair is trading at 0.9218, with the USD trading 0.09% lower from yesterday’s close.
The pair is expected to find support at 0.9160, and a fall through could take it to the next support level of 0.9102. The pair is expected to find its first resistance at 0.9292, and a rise through could take it to the next resistance level of 0.9365.
Trading trends in the pair today are expected to be determined by release of UBS consumption indicator in Switzerland.
The currency pair is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
