USD/CHF: Swissy trading below its MA’s

USD CHF

USDCHF Movement

For the 24 hours to 23:00 GMT on Friday, USD declined 1.62% against the CHF and closed at 0.9706.

On the Swiss economic front, the UBS real estate bubble index fell to 0.82 in the Q2 FY2012, from 0.95 in the Q1 of 2012, marking the first decline in four months.

In the Asian session, at GMT0300, the pair is trading at 0.9698, with the USD trading 0.08% lower from Friday’s close.

The pair is expected to find support at 0.9613, and a fall through could take it to the next support level of 0.9528. The pair is expected to find its first resistance at 0.9827, and a rise through could take it to the next resistance level of 0.9956.

The currency pair is trading well below 20 Hr and 50 Hr moving averages.

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