USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.32% against the CHF and closed at 0.9724.
In economic news, Switzerland’s producer and import price index dropped 0.1% on a monthly basis in July, compared to an advance of 0.1% in the previous month while markets expected the index to ease 0.2%. Also, the nation’s total sight deposits rose slightly to a level of CHF512.9 billion for the week ended 12 August, from CHF511.4 billion for the previous week.
In the Asian session, at GMT0300, the pair is trading at 0.9719, with the USD trading marginally lower against the CHF from yesterday’s close.
The pair is expected to find support at 0.9699, and a fall through could take it to the next support level of 0.9678. The pair is expected to find its first resistance at 0.9749, and a rise through could take it to the next resistance level of 0.9778.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
