USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.89% against the CHF and closed at 0.9632.
On the macro front, Switzerland’s ZEW economic expectations index fell to a level of 25.0 in August, compared to a reading of 34.70 in the previous month. Further, the nation’s KOF leading indicator eased to a level of 104.1 in August, compared to market consensus for a drop to a level of 107.0. In the previous month, the index had registered a revised reading of 108.0.
On the other hand, the nation’s UBS consumption indicator rose to a level of 1.38 in July, compared to a revised level of 1.30 in the previous month.
In the Asian session, at GMT0300, the pair is trading at 0.9640, with the USD trading 0.08% higher against the CHF from yesterday’s close.
The pair is expected to find support at 0.9571, and a fall through could take it to the next support level of 0.9501. The pair is expected to find its first resistance at 0.9678, and a rise through could take it to the next resistance level of 0.9715.
Amid no macroeconomic releases in the Switzerland today, investor sentiment will be determined by global macroeconomic events.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
