USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.91% against the CHF and closed at 0.9253.
Yesterday, the Swiss State Secretariat for Economic Affairs (SECO) raised its 2013 growth outlook to 1.4% from 1.3% it anticipated in March and has kept its 2014 growth outlook unchanged at 2.1%. It added that the Swiss economy would recover over the next two years on the back of improvement in the global economy.
In the Asian session, at GMT0300, the pair is trading at 0.9236, with the USD trading 0.18% lower from yesterday’s close.
The pair is expected to find support at 0.9193, and a fall through could take it to the next support level of 0.9151. The pair is expected to find its first resistance at 0.9307, and a rise through could take it to the next resistance level of 0.9379.
In the absence of any major economic event in Switzerland, investors shall track the US MBA mortgage applications data for further cues on the trading trend for the pair.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
