USDCHF is adding 0.03 percent at 0.9865 despite the positive news from Switzerland. The Switzerland Consumer Price Index, Month over Month, came in at 0% beating analysts’ forecasts of -0.1% in June. The Consumer Price Index, Year on Year, came in at 0.6%, better than market consensus of 0.5% in June.
The pair managed to rebound from the yearly low at 0.9690, but still the bears are in full control as the pair trading below all major daily moving averages. First support stands at 0.9836 the 100 hour moving average while extra bids will probably emerge at 0.9796 the 200 day moving average. On the upside immediate resistance for the pair stands at 0.99 psychological figure and next at 0.9978 at the 200 day moving average.