USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.22% against the CHF and closed at 0.9691.
The Swiss Franc lost ground, after the nation’s SVME PMI unexpectedly entered into contraction territory by dropping to a level of 48.7 in July, following a reading of 50.0 in the preceding month.
In the Asian session, at GMT0300, the pair is trading at 0.9694, with the USD trading a tad higher from yesterday’s close.
The pair is expected to find support at 0.9655, and a fall through could take it to the next support level of 0.9616. The pair is expected to find its first resistance at 0.9721, and a rise through could take it to the next resistance level of 0.9748.
With no economic releases in Switzerland today, investors await the release of the nation’s consumer price inflation data, scheduled tomorrow.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
