USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose marginally against the CHF and closed at 0.9137.
On the US economic front, the Mortgage Bankers Association (MBA), reported that on a seasonally adjusted basis, mortgage application volume, for the week ended 14 December 2012, fell 12.3% from one week earlier, marking its lowest level since early November. Separately, on a seasonally adjusted monthly basis, housing starts fell 3.0% to annual rate of 861,000 in November from an upwardly revised estimate of 888,000 in October.
In the Asian session, at GMT0400, the pair is trading at 0.9133, with the USD trading marginally lower from yesterday’s close.
The pair is expected to find support at 0.9096, and a fall through could take it to the next support level of 0.9058. The pair is expected to find its first resistance at 0.9163, and a rise through could take it to the next resistance level of 0.9193.
Trading trends in the pair today are expected to be determined by the release of trade balance data in Switzerland.
The currency pair is trading above its 20 Hr moving average and is showing convergence with its 50 Hr moving average.
