USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.45% against the CHF and closed at 0.9660.
On Friday, Switzerland’s seasonally GDP unexpectedly rose 0.20% QoQ in Q2, after registering a 0.20% fall in Q1.
Meanwhile, yesterday, the Swiss KOF economic barometer unexpectedly rose to 100.70 in August, after recording a revised level of 100.40.
In the Asian session, at GMT0300, the pair is trading at 0.9620, with the USD trading 0.41% lower from yesterday’s close.
The pair is expected to find support at 0.9574, and a fall through could take it to the next support level of 0.9528. The pair is expected to find its first resistance at 0.9679, and a rise through could take it to the next resistance level of 0.9738.
Trading trends in the CHF today are expected to be determined by the release of Switzerland’s SVME – PMI data for August.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
