USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.18% against the CHF and closed at 0.9694 on Friday.
The KOF Economic Institute, in its Summer Forecast, reduced Switzerland’s economic growth forecast to 1.3% for 2017, down from 1.5% projected in March.
In the Asian session, at GMT0300, the pair is trading at 0.9695, with the USD trading marginally higher against the CHF from Friday’s close.
The pair is expected to find support at 0.9674, and a fall through could take it to the next support level of 0.9653. The pair is expected to find its first resistance at 0.9718, and a rise through could take it to the next resistance level of 0.9741.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
