USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.95% against the CHF and closed at 0.9703.
The Swiss Franc gained ground after data showed that Switzerland’s GDP advanced above expectations by 0.6% QoQ in 2Q 2016, growing at its fastest pace in 18 months. In the prior quarter, GDP had climbed by a revised 0.3%.
In other economic news, the nation’s consumer price index fell 0.1% MoM in August, in line with market expectations, after registering a 0.4% decline in the previous month.
In the Asian session, at GMT0300, the pair is trading at 0.9690, with the USD trading 0.13% lower against the CHF from yesterday’s close.
The pair is expected to find support at 0.9648, and a fall through could take it to the next support level of 0.9606. The pair is expected to find its first resistance at 0.9771, and a rise through could take it to the next resistance level of 0.9852.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
