USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.37% against the CHF and closed at 0.9262.
Swiss data released yesterday showed that KOF leading economic indicator increased for a fourth consecutive month in July, suggesting that the pace of Swiss economic growth would quicken as Europe exits recession. Meanwhile, the UBS consumption indicator dropped in June.
In the Asian session, at GMT0300, the pair is trading at 0.9278, with the USD trading 0.17% higher from yesterday’s close.
The pair is expected to find support at 0.9224, and a fall through could take it to the next support level of 0.9171. The pair is expected to find its first resistance at 0.9335, and a rise through could take it to the next resistance level of 0.9393.
The currency pair is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
