USDCHF Movement
For the 24 hours to 23:00 GMT, USD declined 0.03% against the CHF and closed at 0.9466.
On the Swiss economic front, the ZEW survey expectations index declined to a reading of -43.4 in June, compared to a reading of -4.0 posted in May.
In the Asian session, at GMT0300, the pair is trading at 0.9478, with the USD trading 0.12% higher from yesterday’s close.
The pair is expected to find support at 0.9434, and a fall through could take it to the next support level of 0.9391. The pair is expected to find its first resistance at 0.9511, and a rise through could take it to the next resistance level of 0.9545.
In the day ahead, industrial production in Switzerland is expected to show contraction of 8.10% (QoQ) in the first quarter of 2012. Investors also await trade balance data in Switzerland.
The currency pair is trading above its 20 Hr and showing convergence with its 50 Hr moving average.
