USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.79% against the CHF and closed at 0.9781.
In economic news, Switzerland’s total sight deposits rose to a level of CHF501.2 billion for the week ended June 24, from CHF496.4 billion for the previous week.
In the Asian session, at GMT0300, the pair is trading at 0.9764, with the USD trading 0.17% lower against the CHF from yesterday’s close.
The pair is expected to find support at 0.9709, and a fall through could take it to the next support level of 0.9655. The pair is expected to find its first resistance at 0.9819, and a rise through could take it to the next resistance level of 0.9875.
With no economic releases scheduled in Switzerland today, investors would shift their focus to tomorrow’s Swiss UBS consumption indicator data for May, which has risen for the past four consecutive months.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
