USDCHF Movement
For the 24 hours to 23:00 GMT, USD rose 0.30% against the CHF and closed at 0.9837.
In the US, initial claims for state unemployment benefits dropped by 26,000 to a seasonally adjusted 350,000 for the week ended July 7, the lowest level since March 2008.
In the Asian session, at GMT0300, the pair is trading at 0.9841, with the USD trading 0.04% higher from yesterday’s close.
The pair is expected to find support at 0.9809, and a fall through could take it to the next support level of 0.9776. The pair is expected to find its first resistance at 0.9872, and a rise through could take it to the next resistance level of 0.9902.
Later today, producer & import prices in Switzerland are expected to rise by 0.4% (MoM) in June.
The currency pair is showing convergence with its 20 Hr and trading above 50 Hr moving average.
