USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose marginally against the CHF and closed at 0.8778.
In economic news, the UBS reported that its index, measuring the risks in Switzerland’s real estate market, fell for the first time in six quarters to a reading of 1.22 points in the first quarter of 2014 from 1.23 points in the fourth quarter of 2013.
In the Asian session, at GMT0300, the pair is trading at 0.8774, with the USD trading slightly lower from yesterday’s close.
The pair is expected to find support at 0.8763, and a fall through could take it to the next support level of 0.8751. The pair is expected to find its first resistance at 0.8785, and a rise through could take it to the next resistance level of 0.8795.
With no major economic releases in Switzerland, later today, traders are expected to keep a tab on global economic news, for further guidance in the currency pair.
The currency pair is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
