USDCHF Movement
For the 24 hours to 23:00 GMT, USD rose 0.25% against the CHF and closed at 0.7894.
Swiss franc declined against the greenback as investors expected that the central bank would take further steps to weaken the currency.
In the economic news, the M3 money supply in Switzerland, increased 5.9% (Y-o-Y) in July following a 4.9% increase in June.
In the Asian session, at 3:00GMT, the pair is trading at 0.7874, 0.25% lower from yesterday’s close at 23:00 GMT.
The pair has its first short term resistance at 0.7913, followed by the next resistance at 0.7951. The first area of support is at 0.7835 level, with the subsequent support at 0.7795.
The pair is expected to trade on the cues from the release of trade balance in Switzerland.
The currency pair is showing convergence with its 20 Hr and its 50 Hr moving averages.
