USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.38% against the CHF and closed at 0.9907.
On the data front, Switzerland’s total sight deposits rose slightly to a level of CHF576.7 billion in the week ended 17 August, from CHF576.1 billion in the previous week.
In the Asian session, at GMT0300, the pair is trading at 0.9882, with the USD trading 0.25% lower against the CHF from yesterday’s close.
The pair is expected to find support at 0.9847, and a fall through could take it to the next support level of 0.9812. The pair is expected to find its first resistance at 0.9943, and a rise through could take it to the next resistance level of 1.0004.
Ahead in the day, market participants would keep a close watch on Switzerland’s trade balance data for July, slated to release in a while.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
