USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.03% against the CHF and closed at 0.9824.
In economic news, Switzerland’s total sight deposits rose slightly to a level of CHF511.0 billion for the week ended July 15, from CHF510.5 billion for the previous week.
In the Asian session, at GMT0300, the pair is trading at 0.9823, with the USD trading marginally lower against the CHF from yesterday’s close.
The pair is expected to find support at 0.9804, and a fall through could take it to the next support level of 0.9786. The pair is expected to find its first resistance at 0.9844, and a rise through could take it to the next resistance level of 0.9866.
Market participants would await the release of tomorrow’s ZEW Economic Expectations Index data for July 2016 to gauge the six-month economic outlook for Switzerland.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
