USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.65% against the CHF and closed at 0.9591. The Swiss Franc gained ground, after the nation’s trade surplus widened to CHF 3.74 billion in July from June.
In the Asian session, at GMT0300, the pair is trading at 0.9564, with the USD trading 0.28% lower from yesterday’s close.
The pair is expected to find support at 0.9527, and a fall through could take it to the next support level of 0.9491. The pair is expected to find its first resistance at 0.9636, and a rise through could take it to the next resistance level of 0.9709.
Going forward, investors would watch out for the crucial Q2 GDP figures along with UBS consumption indicator as well industrial production data, slated to release in the next week.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
