USDCHF Movement
For the 24 hours to 23:00 GMT, USD rose 0.48% against the CHF and closed at 0.9866.
On the Swiss economic front, the seasonally adjusted manufacturing purchasing managers’ index (PMI) improved to 48.6 in July, from 48.1 in June. Market had expected the index to drop to 47.0 in July. Separately, retail sales rose 3.7% (YoY) in June, compared to a revised 6.4% rise in May.
In the Asian session, at GMT0300, the pair is trading at 0.9869, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 0.9742, and a fall through could take it to the next support level of 0.9616. The pair is expected to find its first resistance at 0.9947, and a rise through could take it to the next resistance level of 1.0026.
With no major release from Switzerland in the day ahead, the pair is expected to trade on trends in the greenback.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
