USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined marginally against the CHF and closed at 0.9645.
On Swiss economic front, a non-seasonally adjusted basis, the unemployment rate fell to 2.9% in June from a rate of 3.0% recorded in May. On a seasonally adjusted basis, unemployment rate remained stable at 3.2% in June from the previous month. Moreover, the industrial production climbed 3.0% in the Q1 2013, more than market expectation of a rise of 1.4%.
In the Asian session, at GMT0300, the pair is trading at 0.9646, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 0.9624, and a fall through could take it to the next support level of 0.9602. The pair is expected to find its first resistance at 0.9668, and a rise through could take it to the next resistance level of 0.9690.
Trading trends in the pair today are expected to be determined by the release of Swiss real retail sales data for May.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
