USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.33% against the CHF and closed at 0.8963.
In economic releases, the ZEW survey on the economic expectation from the Swiss economy fell to an 11-month low reading of 4.8 in June, defying analysts’ expectations for the index to rise to a level of 10.0, and after recording a reading of 7.4 in the previous month.
In the Asian session, at GMT0300, the pair is trading at 0.8961, with the USD trading a tad lower from yesterday’s close.
The pair is expected to find support at 0.8944, and a fall through could take it to the next support level of 0.8926. The pair is expected to find its first resistance at 0.8990, and a rise through could take it to the next resistance level of 0.9018.
Traders keenly await the SNB’s interest rate decision, due later today, which will likely determine their further course of action in the Swiss Franc.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
