USDCHF Movement
For the 24 hours to 23:00 GMT, USD declined 0.41% against the CHF and closed at 0.9117, after the President of the New York Federal Reserve Bank, William Dudley, stated that despite some positive signs growth is on a firmer footing, the US economy still faces significant headwinds.
In the Asian session, at GMT0400, the pair is trading at 0.9116, with the USD trading marginally lower from yesterday’s close.
The pair is expected to find support at 0.9079, and a fall through could take it to the next support level of 0.9042. The pair is expected to find its first resistance at 0.9165, and a rise through could take it to the next resistance level of 0.9215.
The pair is expected to trade on the cues from the release of industrial production data in Switzerland.
The currency pair is trading below its 20 Hr and 50 Hr moving averages
