USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose marginally against the CHF and closed at 0.9413.
In Switzerland, the Centre for European Economic Research (ZEW), reported that the economic expectations index improved to 4.8 in July, from 2.2 in June.
Also a survey by the ZEW economic research institute showed that the Swiss National Bank would most likely scrap its 1.20 per Euro cap on the Franc within the next two years and probably within a year.
In the Asian session, at GMT0300, the pair is trading at 0.9429, with the USD trading 0.17% higher from yesterday’s close.
The pair is expected to find support at 0.9375, and a fall through could take it to the next support level of 0.9321. The pair is expected to find its first resistance at 0.9466, and a rise through could take it to the next resistance level of 0.9503.
Trading trends in the pair today are expected to be determined by release of trade balance data from Switzerland.
The currency pair is showing convergence with its 20 Hr and its 50 Hr moving averages.
