USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.43% against the CHF and closed at 0.9791.
Macroeconomic data indicated that, Switzerland’s consumer price index (CPI) advanced 0.1% MoM in June, at par with market expectations. The consumer price index had registered a similar rise in the prior month.
In the Asian session, at GMT0300, the pair is trading at 0.9778, with the USD trading 0.13% lower against the CHF from yesterday’s close.
The pair is expected to find support at 0.9744, and a fall through could take it to the next support level of 0.9709. The pair is expected to find its first resistance at 0.9806, and a rise through could take it to the next resistance level of 0.9833.
Looking forward, market participants will keep a close watch on Switzerland’s unemployment rate data for June, due to release in a few hours.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
