USDCHF Movement
For the 24 hours to 23:00 GMT on Friday, the USD declined 0.14% against the CHF and closed at 0.9298.
On Friday, the KOF Economic Institute in Switzerland forecasted that the Swiss economy would grow by 0.9% in 2012, down from the prior estimate of 1.2%, while the estimate for 2013 was lowered to 1.3% from 1.7%. Also, Swiss foreign currency reserves rose to CHF429.3 billion in September, from CHF420.8 billion in August.
In the Asian session, at GMT0300, the pair is trading at 0.9329, with the USD trading 0.34% higher from Friday’s close.
The pair is expected to find support at 0.9293, and a fall through could take it to the next support level of 0.9257. The pair is expected to find its first resistance at 0.9348, and a rise through could take it to the next resistance level of 0.9366.
Trading trends in the pair today are expected to be determined by the release of the unemployment rate and the consumer price index (CPI) data in Switzerland.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
