USDCHF Movement
For the 24 hours to 23:00 GMT, USD declined 0.62% against the CHF and closed at 0.8967.
The Swiss KOF Economic Institute lowered its growth forecast for 2011 to 2.3%, from its previous estimate of 2.8% growth for the current year.
The UBS consumption indicator in Switzerland declined by 0.49 points to a reading of 0.79 points in August.
In the Asian session, at 3:00GMT, the USD is trading at 0.8982, 0.17% higher versus the Swiss Franc, from yesterday’s close at 23:00 GMT.
The pair has its first short term resistance at 0.9051, followed by the next resistance at 0.9121. The first area of support is at 0.8919 level, with the subsequent support at 0.8857.
The currency pair is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
