USDCHF Movement
For the 24 hours to 23:00 GMT, the USD marginally rose against the CHF and closed at 0.9653.
In economic news, Switzerland’s industrial production rebounded 2.9% on an annual basis in 2Q 2017. In the previous quarter, industrial production had registered a revised drop of 1.0%.
In the Asian session, at GMT0300, the pair is trading at 0.9647, with the USD trading 0.06% lower against the CHF from yesterday’s close.
The pair is expected to find support at 0.9622, and a fall through could take it to the next support level of 0.9596. The pair is expected to find its first resistance at 0.9671, and a rise through could take it to the next resistance level of 0.9694.
Going forward, investors will keep a close watch on Switzerland’s ZEW expectations survey, retail sales, UBS consumption indicator and KOF leading indicator data, all slated to release next week.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
