USDCHF Movement
For the 24 hours to 23:00 GMT, the USD marginally rose against the CHF and closed at 0.9724.
On the data front, Switzerland’s producer and import price index remained flat on a monthly basis in July, at par with market expectations. In the prior month, the index had recorded a drop of 0.1%.
In the Asian session, at GMT0300, the pair is trading at 0.9727, with the USD trading slightly higher against the CHF from yesterday’s close.
The pair is expected to find support at 0.9700, and a fall through could take it to the next support level of 0.9672. The pair is expected to find its first resistance at 0.9757, and a rise through could take it to the next resistance level of 0.9786.
Amid a lack of macroeconomic releases in Switzerland today, investor sentiment would be governed by global macroeconomic factors.
The currency pair is showing convergence with its 20 Hr moving average and trading above 50 Hr moving averages.
