USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.66% against the CHF and closed at 0.9882.
In the economic news, Switzerland’s KOF economic barometer fell to a level of 101.0 in July, more than market expectations for a drop to a level of 101.5. In the previous month, the KOF economic barometer had recorded a revised reading of 101.3. Other data showed that, total sight deposits eased slightly to a level of CHF576.3 billion in the week ended 27 July, from CHF576.4 billion in the previous week.
In the Asian session, at GMT0300, the pair is trading at 0.9881, with the USD trading a tad lower against the CHF from yesterday’s close.
The pair is expected to find support at 0.9850, and a fall through could take it to the next support level of 0.9820. The pair is expected to find its first resistance at 0.9934, and a rise through could take it to the next resistance level of 0.9988.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
