USDCHF Movement
For the 24 hours to 23:00 GMT, USD declined 0.28% against the CHF and closed at 0.9770.
In Switzerland, the consumption indicator climbed to 1.60 in June, from a revised reading of 1.02 in May.
Meanwhile, in the US, Treasury Secretary, Timothy Geithner, stated that difficulties in Europe and uncertainty over government spending and taxes because of a divisive political situation are hampering the nation’s recovery.
In the Asian session, at GMT0300, the pair is trading steady at 0.9768, from yesterday’s close.
The pair is expected to find support at 0.9738, and a fall through could take it to the next support level of 0.9707. The pair is expected to find its first resistance at 0.9802, and a rise through could take it to the next resistance level of 0.9835.
The currency pair is showing convergence with its 20 Hr moving average and trading just below its 50 Hr moving average.
