USDCHF Movement
For the 24 hours to 23:00 GMT, the USD marginally declined against the CHF and closed at 0.9796.
In economic news, Switzerland’s total sight deposits inched up to a level of CHF515.8 billion in the week ended 02 September, from CHF515.6 billion in the previous week.
In the Asian session, at GMT0300, the pair is trading at 0.9795, with the USD trading marginally lower against the CHF from yesterday’s close.
The pair is expected to find support at 0.9771, and a fall through could take it to the next support level of 0.9746. The pair is expected to find its first resistance at 0.9817, and a rise through could take it to the next resistance level of 0.9838.
Moving ahead, investors will look forward to Switzerland’s second quarter GDP and consumer price index data for August, scheduled to release in a few hours.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
