USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.17% against the CHF and closed at 0.9365. The Swiss Franc traded lower despite better than forecast second quarter GDP data on the back of a rise in private consumption, adding to optimistic view on the economy.
A report showed that growth in the Swiss economy accelerated 2.5% (YoY) in the second quarter, more than the analysts’ expectation for a growth of 1.7% and compared to a 1.2% growth seen in the previous quarter.
In the Asian session, at GMT0300, the pair is trading at 0.9372, with the USD trading slightly higher from yesterday’s close.
The pair is expected to find support at 0.9347, and a fall through could take it to the next support level of 0.9321. The pair is expected to find its first resistance at 0.9391, and a rise through could take it to the next resistance level of 0.9409.
Amid lack of economic releases in Switzerland, inventors are expected to keep an eye on the global economic news for further guidance.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
