USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.26% against the CHF and closed at 0.9628.
In economic news, Switzerland’s total sight deposits rose to a level of CHF579.5 billion in the week ended 18 August, compared to a level of CHF578.9 billion reported in the previous week.
In the Asian session, at GMT0300, the pair is trading at 0.9633, with the USD trading slightly higher against the CHF from yesterday’s close.
The pair is expected to find support at 0.9594, and a fall through could take it to the next support level of 0.9556. The pair is expected to find its first resistance at 0.9678, and a rise through could take it to the next resistance level of 0.9724.
Moving ahead, market participants will look forward to Switzerland’s trade balance data for July, scheduled to release in a while.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
