USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.17% against the CHF and closed at 0.9900.
In economic news, Switzerland’s KOF economic barometer unexpectedly rose to a level of 97.1 in July, defying market consensus for a fall to a level of 93.0. The KOF economic barometer had recorded a revised reading of 93.8 in the prior month.
In the Asian session, at GMT0300, the pair is trading at 0.9904, with the USD trading marginally higher against the CHF from yesterday’s close.
The pair is expected to find support at 0.9889, and a fall through could take it to the next support level of 0.9874. The pair is expected to find its first resistance at 0.9920, and a rise through could take it to the next resistance level of 0.9937.
With no macroeconomic releases in Switzerland today, investors would look forward to global macroeconomic releases for further direction.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
