USDCHF Movement
For the 24 hours to 23:00 GMT on Friday, USD declined 0.58% against the CHF and closed at 0.9544.
In the US, the Thomson Reuters/University of Michigan final sentiment index climbed to a reading of 74.3, a three-month high. Additionally, factory orders rose 2.8% to $478.62 billion in July.
In the Asian session, at GMT0300, the pair is trading at 0.9548, with the USD trading marginally higher from Friday’s close.
The pair is expected to find support at 0.9496, and a fall through could take it to the next support level of 0.9444. The pair is expected to find its first resistance at 0.9606, and a rise through could take it to the next resistance level of 0.9664.
Trading trends in the pair today are expected to be determined by the release of SVME-purchasing managers’ index and retail sales data in Switzerland.
The currency pair is trading just below its 20 Hr moving average and well below its 50 Hr moving average.
