USDCHF Movement
For the 24 hours to 23:00 GMT, USD rose 0.21% against the CHF and closed at 0.9564.
The Swiss Franc fell after data showed that Swiss gross domestic product (GDP) on a seasonally adjusted basis, declined 0.1% (QoQ) in Q2 FY2012, marking the first contraction since the third quarter of 2011, and following a revised 0.5% growth recorded in Q1 FY2012. Market had expected the GDP to grow by 0.2%.
In the Asian session, at GMT0300, the pair is trading at 0.9580, with the USD trading 0.17% higher from yesterday’s close.
The pair is expected to find support at 0.9529, and a fall through could take it to the next support level of 0.9477. The pair is expected to find its first resistance at 0.9612, and a rise through could take it to the next resistance level of 0.9643.
Trading trends in the pair today are expected to be determined by the release of consumer price index data in Switzerland.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
