USDCHF Movement
On Friday, the USD declined 1.26% against the CHF and closed at 0.9769, reversing its previous session gains.
In the Asian session, at GMT0400, the pair is trading at 0.9774, with the USD trading marginally higher from Friday’s close.
The pair is expected to find support at 0.9700, and a fall through could take it to the next support level of 0.9627. The pair is expected to find its first resistance at 0.9877, and a rise through could take it to the next resistance level of 0.9980.
Amid a light economic calendar in Switzerland today, market participants would concentrate on Swiss M3 money supply and the SNB’s sight deposits data, scheduled in a few hours.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
