USDCHF Movement
For the 24 hours to 23:00 GMT, USD rose 0.94% against the CHF and closed at 0.8448.
In Switzerland, the State Secretariat for Economic Affairs (SECO) retained its growth forecast for gross domestic product (GDP) at 2.1% for 2011. Meanwhile, it downwardly revised 2012 growth estimate to 1.5% from an initially estimated growth rate of 1.9%.
In the Asian session, at 3:00GMT, the pair is trading at 0.8447, flat from yesterday’s close at 23:00 GMT.
The pair has its first short term resistance at 0.8489, followed by the next resistance at 0.8532. The first area of support is at 0.8376 level, with the subsequent support at 0.8306.
Trading trends in the pair today are expected to be determined by release of data on producer and import prices in Switzerland.
The currency pair is trading just above its 20 Hr and its 50 Hr moving average.
