USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.13% against the CHF and closed at 0.9285.
Yesterday, the State Secretariat for Economic Affairs (SECO) forecasted that the Swiss economy would expand 1.0% in 2012, down from the prior estimate of 1.4%. For next year, the growth projection was trimmed marginally to 1.4% from 1.5%.
In the Asian session, at GMT0300, the pair is trading at 0.9281, with the USD trading 0.04% lower from yesterday’s close.
The pair is expected to find support at 0.9252, and a fall through could take it to the next support level of 0.9223. The pair is expected to find its first resistance at 0.9304, and a rise through could take it to the next resistance level of 0.9327.
In Switzerland, investors await ZEW expectations data due out later today.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
