USDCHF Movement
For the 24 hours to 23:00 GMT, USD declined 0.91% against the CHF and closed at 0.9635.
On the Swiss economic front, the M3 money supply increased 9.8% (YoY) in July, following an 8.5% rise in June.
Separately, the ratings agency, Standard & Poor’s, raised the chance of the US falling into recession to 25%, up from a 20% chance estimated in February.
In the Asian session, at GMT0300, the pair is trading at 0.9636, with the USD trading flat from yesterday’s close.
The pair is expected to find support at 0.9595, and a fall through could take it to the next support level of 0.9554. The pair is expected to find its first resistance at 0.9701, and a rise through could take it to the next resistance level of 0.9766.
The currency pair is trading just below its 20 Hr moving average and well below its 50 Hr moving average.
