USDCHF Movement
For the 24 hours to 23:00 GMT, USD rose 0.17% against the CHF and closed at 0.8363, as data on consumer prices from Switzerland damped the speculation that the nation’s central bank would the raise borrowing costs.
In Switzerland, the consumer price inflation, on annual basis, rose to 0.4% in May, from 0.3% rise in April.
In the Asian session, at 3:00GMT, the pair is trading at 0.8362, flat from yesterday’s close at 23:00 GMT.
The pair has its first short term resistance at 0.8396, followed by the next resistance at 0.8429. The first area of support is at 0.8326 levels, with the subsequent support at 0.8289.
Trading trends in the pair today are expected to be determined by data release on unemployment rate in Switzerland.
The currency pair is showing convergence with its 20 Hr and its 50 Hr moving averages.
