USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.20% against the CHF and closed at 0.9202.
In economic news, unemployment rate in Switzerland remained unchanged at 3.2% in July, indicating that the Swiss economic is subjected to risk of being dragged down in recession in the neighbouring Euro area.
In the Asian session, at GMT0300, the pair is trading at 0.9198, with the USD trading modestly lower from yesterday’s close.
The pair is expected to find support at 0.9172, and a fall through could take it to the next support level of 0.9145. The pair is expected to find its first resistance at 0.9227, and a rise through could take it to the next resistance level of 0.9255.
The currency pair is showing convergence with its 20 Hr and is trading below 50 Hr moving average.
