USDCHF Movement
For the 24 hours to 23:00 GMT, USD rose 0.83% against the CHF and closed at 0.8241, after the US President, Barack Obama endorsed deficit-cutting measures as a step toward raising the debt ceiling and avoiding default.
In the US, the housing starts increased 14.6% to a seasonally adjusted annual rate of 629,000 in June, following a downwardly revised rate of 549,000 recorded in May. Additionally, building permits rose 2.5% to an annual rate of 624,000 in June, following a downwardly revised rate of 609,000 permits recorded in the previous month.
In the Asian session, at 3:00GMT, the pair is trading at 0.8245, 0.05% higher from yesterday’s close at 23:00 GMT.
The pair has its first short term resistance at 0.8297, followed by the next resistance at 0.8348. The first area of support is at 0.8177 level, with the subsequent support at 0.8108.
The currency pair is trading just above its 20 Hr and its 50 Hr moving averages.
