USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.25% against the CHF and closed at 0.9931.
Macroeconomic data showed that, Switzerland’s total sight deposits rose to a level of CHF576.3 billion in the week ended 20 July, from CHF576.1 billion in the previous week. Moreover, the nation’s M3 money supply grew 2.4% on a yearly basis in June, after registering a revised advance of 2.8% in the prior month.
In the Asian session, at GMT0300, the pair is trading at 0.9930, with the USD trading slightly lower against the CHF from yesterday’s close.
The pair is expected to find support at 0.9907, and a fall through could take it to the next support level of 0.9885. The pair is expected to find its first resistance at 0.9947, and a rise through could take it to the next resistance level of 0.9965.
With no macroeconomic releases in Switzerland today, investors would look forward to global macroeconomic releases for further direction.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
