USDCHF Movement
On Friday, the USD rose 0.20% against the CHF and closed at 0.9002.
On the economic front, the Swiss KOF Institute, in its summer economic forecasts report, slashed its 2014 and 2015 growth-outlook for the Swiss economy to 1.8% and 2.0%, from its earlier estimates of 2.0% and 2.1%, respectively.
In the Asian session, at GMT0300, the pair is trading at 0.8998, with the USD trading marginally lower from Friday’s close.
The pair is expected to find support at 0.8968, and a fall through could take it to the next support level of 0.8938. The pair is expected to find its first resistance at 0.9020, and a rise through could take it to the next resistance level of 0.9042.
Amid a lack of major economic releases in Switzerland, 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 just above its 50 Hr moving average.
