USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.07% against the CHF and closed at 0.9796.
In economic news, Switzerland’s total sight deposits inched up to a level of CHF516.7 billion in the week ended 16 September, from CHF515.8 billion in the previous week.
In the Asian session, at GMT0300, the pair is trading at 0.98, with the USD trading marginally higher against the CHF from yesterday’s close.
The pair is expected to find support at 0.9780, and a fall through could take it to the next support level of 0.9759. The pair is expected to find its first resistance at 0.9820, and a rise through could take it to the next resistance level of 0.9839.
Going ahead, market participants would await the release of Switzerland’s trade balance data for August, due to release in some time.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
