USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose marginally against the CHF and closed at 0.9616.
In economic news, Switzerland’s total sight deposits rose to a level of CHF496.4 billion for the week ended June 17, from CHF493.8 billion for the previous week.
In the Asian session, at GMT0300, the pair is trading at 0.9612, with the USD trading marginally lower against the CHF from yesterday’s close.
The pair is expected to find support at 0.9578, and a fall through could take it to the next support level of 0.9545. The pair is expected to find its first resistance at 0.9639, and a rise through could take it to the next resistance level of 0.9667.
Moving ahead, market participants will look forward to Switzerland’s trade balance data for May, scheduled to release in a few hours.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
