USDCHF Movement
For the 24 hours to 23:00 GMT, USD rose 2.13% against the CHF, on Friday, and closed at 0.7777, on speculation that Swiss National Bank would act further to weaken the Franc.
In the US, the business inventories grew 0.3% (M-o-M) in June, following a 1.0% rise in May.
In the Asian session, at 3:00GMT, the pair is trading at 0.7906, 1.66% higher from Friday’s close at 23:00 GMT.
The pair has its first short term resistance at 0.8034, followed by the next resistance at 0.8161. The first area of support is at 0.7662 level, with the subsequent support at 0.7417.
Trading trends in the pair today are expected to be determined by release of producer and import prices data in Switzerland.
The currency pair is trading above its 20 Hr and its 50 Hr moving averages.
