USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.06% against the CHF and closed at 0.8874.
In economic news, the Swiss SVME association and Credit Suisse reported that its purchasing managers’ index for the Swiss economy rose more-than-expected to a 2-month high reading of 54.0 in June, from an earlier month’s reading of 52.5.
In the Asian session, at GMT0300, the pair is trading at 0.8877, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 0.8862, and a fall through could take it to the next support level of 0.8846. The pair is expected to find its first resistance at 0.8887, and a rise through could take it to the next resistance level of 0.8896.
Amid a lack of major economic releases from Switzerland, later today, traders are expected to keep a tab on global economic news for further cues in the currency pair.
The currency pair is trading just above its 20 Hr moving average and is showing convergence with its 50 Hr moving average.
