USDCHF Movement
For the 24 hours to 23:00 GMT, USD declined 0.95% against the CHF and closed at 0.8054.
The US dollar remained under pressure versus the Swiss franc, as the US President, Barack Obama warned that the nation’s burgeoning debt threatens to do “serious” damage to the economy. Concerns that the US could suffer a credit rating downgrade hit investor sentiment on Monday and drove money into safe-haven Swiss Francs as a breakdown in budget talks in Washington unsettled markets.
In the Asian session, at 3:00GMT, the pair is trading at 0.8018, 0.45% lower from yesterday’s close at 23:00 GMT.
The pair has its first short term resistance at 0.8102, followed by the next resistance at 0.8187. The first area of support is at 0.7968 level, with the subsequent support at 0.7919.
Trading trends in the pair today are expected to be determined by release of UBS consumption indicator in Switzerland
The currency pair is trading just below its 20 Hr moving average and well below its 50 Hr moving average.
