USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.53% against the CHF and closed at 0.9858.
On the macro front, Switzerland’s seasonally adjusted gross domestic product (GDP) rose 0.3% on a quarterly basis in 2Q 2019, compared to a revised increase of 0.4% in the previous quarter.
In the Asian session, at GMT0300, the pair is trading at 0.987, with the USD trading 0.12% higher against the CHF from yesterday’s close.
The pair is expected to find support at 0.9835, and a fall through could take it to the next support level of 0.9800. The pair is expected to find its first resistance at 0.9889, and a rise through could take it to the next resistance level of 0.9908.
Moving forward, traders would keep an eye on Switzerland’s producer & import prices and unemployment rate, scheduled to release next week.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
