USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.38% against the CHF and closed at 0.9799.
Macroeconomic data indicated that Switzerland’s real retail sales fell by 2.2% on an annual basis in July, after recording a revised drop of 3.5% in the previous month. Also, the nation’s SVME manufacturing PMI climbed to a level of 51.0 in August, higher than market expectations of a rise to a level of 50.6 and following a level of 50.1 in the prior month.
In the Asian session, at GMT0300, the pair is trading at 0.9798, with the USD trading slightly lower against the CHF from yesterday’s close.
The pair is expected to find support at 0.9758, and a fall through could take it to the next support level of 0.9718. The pair is expected to find its first resistance at 0.9861, and a rise through could take it to the next resistance level of 0.9924.
Next week would bring two crucial data releases, including Switzerland’s consumer price index and GDP data.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
