USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.07% against the CHF and closed at 0.9748.
Yesterday, the State Secretariat for Economic Affairs (SECO), in its quarterly economic forecasts report, trimmed Switzerland’s 2017 growth outlook by 0.2% to 1.4%, citing subdued inflation in the nation. Meanwhile, projection for 2018 was retained at 1.9%.
In the Asian session, at GMT0300, the pair is trading at 0.9744, with the USD trading a tad lower against the CHF from yesterday’s close.
The pair is expected to find support at 0.9725, and a fall through could take it to the next support level of 0.9705. The pair is expected to find its first resistance at 0.9765, and a rise through could take it to the next resistance level of 0.9785.
Investors look forward to the Swiss National Bank’s quarterly bulletin report, scheduled to release later in the day.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
