USDCHF Movement
For the 24 hours to 23:00 GMT, USD declined 0.06% against the CHF and closed at 0.8341, after the US Commerce Department reported that consumer spending data in the US was weakest in nearly a year.
In the US, on a monthly basis, the personal income in the US rose 0.3% in May, compared to a downwardly revised 0.3% increase recorded in April. Meanwhile, on a monthly basis, the consumer spending in the US climbed by $4.6 billion or marginally less than 0.1% in May, following a downwardly revised 0.3% increase recorded in the previous month.
In the Asian session, at 3:00GMT, the pair is trading at 0.8353, 0.14% higher from yesterday’s close at 23:00 GMT.
The pair has its first short term resistance at 0.8382, followed by the next resistance at 0.8410. The first area of support is at 0.8322 level, with the subsequent support at 0.8290.
Trading trends in the pair today are expected to be determined by release of UBS consumption indicator in Switzerland.
The currency pair is showing convergence with its 20 Hr moving average and is trading just below its 50 Hr moving average.
