USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.45% against the CHF and closed at 0.9213.
Economic data from Switzerland yesterday showed that, consumer price index (CPI) dropped 0.4% (MoM) in July, compared to previous month. Additionally, SECO consumer confidence index fell to a reading of -9.0 for three months ended July, from -5.0 for three months ended April. Meanwhile, Swiss National Bank’s foreign currency reserves edged up modestly to CHF434.9 billion in July from CHF434.8 billion in June.
In the Asian session, at GMT0300, the pair is trading at 0.9225, with the USD trading 0.13% higher from yesterday’s close.
The pair is expected to find support at 0.9192, and a fall through could take it to the next support level of 0.9158. The pair is expected to find its first resistance at 0.9274, and a rise through could take it to the next resistance level of 0.9322.
Ahead in the day, traders would keep a tab on Swiss unemployment rate for July.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
