USDCHF Movement
For the 24 hours to 23:00 GMT, the USD traded marginally lower against the CHF and closed at 0.9426. The Swiss Franc rose ground, on the back of upbeat CPI data.
Data showed that consumer prices in Switzerland rebounded 0.1% on a monthly basis in June, reversing market expectations of a 0.1% drop and following a rise of 0.2% in May.
In the Asian session, at GMT0300, the pair is trading at 0.9434, with the USD trading 0.09% higher from yesterday’s close.
The pair is expected to find support at 0.9403, and a fall through could take it to the next support level of 0.9373. The pair is expected to find its first resistance at 0.9469, and a rise through could take it to the next resistance level of 0.9504.
Looking ahead, investors would closely monitor Switzerland’s jobless rate data, scheduled in a few hours, which is widely expected to remain unchanged at 3.3%.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
