USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.55% against the CHF and closed at 0.9649 on Friday.
Macroeconomic data revealed that in Switzerland’s real retail sales registered a drop of 0.7% on an annual basis in July, following a revised gain of 1.7% in the prior month.
On the other hand, the nation’s SVME–manufacturing PMI unexpectedly rose to a level of 61.2 in August, confounding market consensus for a decline to a level of 60.2. The PMI had recorded a reading of 60.9 in the prior month.
In the Asian session, at GMT0300, the pair is trading at 0.9608, with the USD trading 0.42% lower against the CHF from Friday’s close.
The pair is expected to find support at 0.9552, and a fall through could take it to the next support level of 0.9497. The pair is expected to find its first resistance at 0.9658, and a rise through could take it to the next resistance level of 0.9709.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
