USDCHF Movement
For the 24 hours to 23:00 GMT, USD declined 1.95% against the CHF, on Friday, and closed at 0.8491. The Swiss Franc touched record levels against the dollar, indicating that concerns over Euro zone debts remained strong.
In Switzerland, the KOF leading indicator remained unchanged at 2.3 in May from April. The KOF stated that all sub-components of the indicator were in positive territory, pointing towards strong gross domestic product growth over the next few months. Swiss GDP data is due next week.
In the Asian session, at 3:00GMT, the pair is trading at 0.8517, 0.31% higher from Friday’s close.
The pair has its first short term resistance at 0.8613, followed by the next resistance at 0.8710. The first area of support is at 0.8439 levels, with the subsequent support at 0.8362.
The currency pair is trading just below its 20 Hr and its 50 Hr moving averages.
