USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.08% against the CHF and closed at 0.9836.
On the data front, Switzerland’s UBS consumption indicator climbed to a level of 1.32 in July, following a revised reading of 1.21 in the prior month.
In the Asian session, at GMT0300, the pair is trading at 0.9830, with the USD trading 0.06% lower against the CHF from yesterday’s close.
The pair is expected to find support at 0.9808, and a fall through could take it to the next support level of 0.9786. The pair is expected to find its first resistance at 0.9857, and a rise through could take it to the next resistance level of 0.9884.
Moving ahead, market participants will keep a close watch on Switzerland’s real retail sales and the SVME-purchasing managers’ index, scheduled to release in some time.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
