USDCHF Movement
For the 24 hours to 23:00 GMT, USD declined 4.20% against the CHF and closed at 0.7225, as the Federal Reserve’s pledge to keep rates near zero for another two years further diminished its allure to global investors.
In the Switzerland’s economic news, the State Secretariat for Economic Affairs indicated that the consumer confidence index dropped to a reading of -17.0 in July, following a reading of -1.0 in April.
In the Asian session, at 3:00GMT, the pair is trading at 0.7240, 0.21% higher from yesterday’s close at 23:00 GMT.
The pair has its first short term resistance at 0.7535, followed by the next resistance at 0.7831. The first area of support is at 0.7003 level, with the subsequent support at 0.6767.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
