USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined marginally against the CHF and closed at 0.9449.
In Switzerland, the SVME manufacturing Purchasing Managers’ Index (PMI) fell to a reading of 51.9 in June, against the expected reading of 52.4 and following a reading of 52.2 in May.
In the Asian session, at GMT0300, the pair is trading at 0.9454, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 0.9425, and a fall through could take it to the next support level of 0.9396. The pair is expected to find its first resistance at 0.9494, and a rise through could take it to the next resistance level of 0.9534.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
