USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.49% against the CHF and closed at 0.9132.
In Switzerland, the KOF institute forecasts the Swiss economy to grow 1.2% in 2013, as compared to the earlier estimate in October of 1.3% growth. According to the revised estimates, GDP growth is expected to slow to 1.0% percent in 2012 from last year’s 1.9%, but will be slightly faster than 0.9% estimated earlier. The growth forecast for 2014 has been maintained at 2.0%.
In the Asian session, at GMT0400, the pair is trading at 0.9116, with the USD trading 0.17% lower from yesterday’s close.
The pair is expected to find support at 0.9092, and a fall through could take it to the next support level of 0.9067. The pair is expected to find its first resistance at 0.9164, and a rise through could take it to the next resistance level of 0.9211.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
