USDCHF Movement
For the 24 hours to 23:00 GMT, USD climbed 0.50% against the CHF and closed at 0.9541.
In the US, according to the Federal Reserve’s Beige Book, economic activity expanded “at a modest to moderate pace” in the latter part of 2011. The report also indicated that there has been an improvement in economic conditions in the US and holiday retail sales were up “noticeably” over last year.
In the Asian session, at GMT0400, the pair is trading at 0.9531, with the USD trading 0.10% lower from yesterday’s close.
The pair is expected to find support at 0.9487, and a fall through could take it to the next support level of 0.9443. The pair is expected to find its first resistance at 0.9571, and a rise through could take it to the next resistance level of 0.9611.
The currency pair is showing convergence with its 20 Hr and its 50 Hr moving averages.
