USDCHF Movement
For the 24 hours to 23:00 GMT on Friday, USD rose 0.77% against the CHF and closed at 0.9772.
In Switzerland, consumer price index fell 1.1% (YoY) in June, against the market expectation of 1.0% fall.
Meanwhile, Swiss Economy Minister, Johann Schneider-Ammann, stated that the Swiss central bank should defend its 1.20 Francs/Euro limit as the pressure on the Swiss currency to appreciate would increase.
In the Asian session, at GMT0300, the pair is trading at 0.9774, with the USD trading marginally higher from Friday’s close.
The pair is expected to find support at 0.9707, and a fall through could take it to the next support level of 0.9639. The pair is expected to find its first resistance at 0.9821, and a rise through could take it to the next resistance level of 0.9867.
In Switzerland, on a seasonally adjusted basis unemployment rate is expected to remain steady at 3.2% in June.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
