USD/CHF: Swiss economic growth to slow more-than-expected ...

GCI Forex News - USD/CHF: Swiss economic growth to slow more-than-expected, indicates Bloomberg survey

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USDCHF Movement

For the 24 hours to 23:00 GMT, the USD declined 0.33% against the CHF and closed at 0.9424.

In the Asian session, at GMT0400, the pair is trading at 0.9429, with the USD trading 0.06% higher from yesterday?s close. According to a survey conducted by Bloomberg, Switzerland?s economic growth will slow more-than-expected this year before expanding less than previously forecast in 2013 and 2014. Gross domestic product is seen rising 0.9% this year, 1.1% in 2013 and 1.6% in 2014, according to Bloomberg?s quarterly survey on the Swiss economy. In an August survey, economists saw GDP growing 1.3% in 2012, 1.5% next year and 1.8% in 2014.

The pair is expected to find support at 0.9404, and a fall through could take it to the next support level of 0.9379. The pair is expected to find its first resistance at 0.9453, and a rise through could take it to the next resistance level of 0.9478.

The currency pair is trading between its 20 Hr and 50 Hr moving averages.

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Source: http://forexnews.gcitrading.com/currencies/usdchf/usdchf-swiss-economic-growth-to-slow-more-than-expected-indicates-bloomberg-survey.htm

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