USDCHF Movement
For the 24 hours to 23:00 GMT, USD declined 0.34% against the CHF and closed at 0.8585, as the Federal Reserve’s Beige Book survey indicated that the US economy grew at a slower pace in some regions of the country.
In the Asian session, at 3:00GMT, the USD is trading at 0.8589, 0.05% higher versus Swiss Franc, from yesterday’s close at 23:00 GMT.
The pair has its first short term resistance at 0.8622, followed by the next resistance at 0.8655. The first area of support is at 0.8546 level, with the subsequent support at 0.8503.
Trading trends in the pair today are expected to be determined by employment data release in Switzerland.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
