USDCHF Movement
On Friday, the USD ended mostly flat against the CHF and closed at 0.9308. In Switzerland, KOF leading indicator rose to a reading of 1.36 during August, surpassing analysts’ consensus for a rise to 1.33 from a reading of 1.25 registered in the previous month.
In the Asian session, at GMT0300, the pair is trading at 0.9323, with the USD trading 0.16% higher from Friday’s close.
The pair is expected to find support at 0.9294, and a fall through could take it to the next support level of 0.9266. The pair is expected to find its first resistance at 0.9345, and a rise through could take it to the next resistance level of 0.9368.
Investors await the release of SVME – purchasing managers’ index to gauge business conditions in the manufacturing sector in Switzerland.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
