USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.32% against the CHF and closed at 0.9752.
Meanwhile, in economic news, Switzerland’s foreign currency reserves climbed to CHF 540.40 billion in August, after recording a revised reading of CHF 531.20 billion in the previous month.
In the Asian session, at GMT0300, the pair is trading at 0.9743, with the USD trading 0.09% lower from yesterday’s close.
The pair is expected to find support at 0.9715, and a fall through could take it to the next support level of 0.9687. The pair is expected to find its first resistance at 0.9768, and a rise through could take it to the next resistance level of 0.9793.
Going forward, investors would keep a close eye on the release of Switzerland’s unemployment rate data, scheduled in a few hours.
The currency pair is showing convergence with its 20 Hr moving average and 50 Hr moving average.
