USDCHF Movement
On Friday, the USD declined 0.49% against the CHF and closed at 0.9293.
The Swiss Franc nudged higher, after Switzerland’s KOF institute upgraded its economic forecast for the Swiss economy to 0.4% in this year and 1.3% in 2016 from its previous growth forecasts of 0.2% and 1.0% respectively.
In the Asian session, at GMT0300, the pair is trading at 0.9326, with the USD trading 0.36% higher from Friday’s close.
The pair is expected to find support at 0.9248, and a fall through could take it to the next support level of 0.9169. The pair is expected to find its first resistance at 0.9399, and a rise through could take it to the next resistance level of 0.9471.
Going forward, Switzerland’s real retail sales, scheduled in a few hours would fetch lot of market attention.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
