USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.46% against the CHF and closed at 0.9539.
Macroeconomic data indicated that Switzerland’s seasonally adjusted gross domestic product (GDP) rose less-than-expected by 0.3% on a quarterly basis in the second quarter of 2017, compared to a revised rise of 0.1% in the prior quarter, while markets were anticipating GDP to rise 0.5%. Moreover, the nation’s consumer price index (CPI) remained flat on a monthly basis in August, meeting market expectations and compared to a drop of 0.3% in the prior month.
In the Asian session, at GMT0300, the pair is trading at 0.9549, with the USD trading 0.1% higher against the CHF from yesterday’s close.
The pair is expected to find support at 0.9517, and a fall through could take it to the next support level of 0.9486. The pair is expected to find its first resistance at 0.9597, and a rise through could take it to the next resistance level of 0.9646.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
