USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.42% against the CHF and closed at 0.9070, as a lacklustre US consumer confidence report spooked investors’ confidence in the US Dollar.
In the Asian session, at GMT0400, the pair is trading at 0.9063, with the USD trading 0.08% lower from yesterday’s close.
The pair is expected to find support at 0.9040, and a fall through could take it to the next support level of 0.9016. The pair is expected to find its first resistance at 0.9101, and a rise through could take it to the next resistance level of 0.9138.
Traders are expected to keep a close watch on the release of Switzerland’s UBS consumption indicator, which would equip investors with the private consumption trends in the Swiss economy and assist them to determine further direction in the Swiss Franc.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
