USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.33% against the CHF and closed at 0.9732.
In economic news, Switzerland’s real retail sales fell 1.6% YoY in May, following a revised 2.2% drop in the previous month. Additionally, the nation’s SVME purchasing managers’ index declined more-than-expected to a level of 51.6 in June, from a reading of 55.8 in the previous month.
In the Asian session, at GMT0300, the pair is trading at 0.9731, with the USD trading marginally lower against the CHF from Friday’s close.
The pair is expected to find support at 0.9699, and a fall through could take it to the next support level of 0.9666. The pair is expected to find its first resistance at 0.9772, and a rise through could take it to the next resistance level of 0.9812.
The currency pair is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
