USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.15% against the CHF and closed at 0.9457.
On the data front, Switzerland’s SVME Purchasing Managers’ Index unexpectedly dropped to 41.9 in June, confounding market expectations for a rise to a level of 48.3 and compared to a level of 42.1 in the previous month.
In the Asian session, at GMT0300, the pair is trading at 0.9461, with the USD trading marginally higher against the CHF from yesterday’s close.
The pair is expected to find support at 0.9439, and a fall through could take it to the next support level of 0.9418. The pair is expected to find its first resistance at 0.9488, and a rise through could take it to the next resistance level of 0.9516.
Looking forward, traders would keep a watch on Switzerland’s consumer price index for June, slated to release in a few hours.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
