USD/CHF: Switzerland’s investor confidence improved for the first time in 3 months in September

USDCHF

USDCHF Movement

For the 24 hours to 23:00 GMT, the USD declined 0.35% against the CHF and closed at 0.9730.

Macroeconomic data indicated that Switzerland’s ZEW survey of economic expectations index rebounded to a level of 2.7 in September, strengthening for the first time in three months, compared to a reading of -2.8 in the prior month.

In the Asian session, at GMT0300, the pair is trading at 0.9725, with the USD trading slightly lower against the CHF from yesterday’s close.

The pair is expected to find support at 0.9688, and a fall through could take it to the next support level of 0.9650. The pair is expected to find its first resistance at 0.9776, and a rise through could take it to the next resistance level of 0.9826.

Moving ahead, investors would concentrate on the Swiss National Bank’s (SNB) interest rate decision, scheduled to announced in a few hours.

The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.

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