Cozfx: For the 23:00 GMT on Friday, the USD dropped 0.14% against the CHF and closed at 0.9298. In the Asian session, the currency pair is trading at 0.9329, with the USD trading 0.34% higher from Friday’s close.

On Friday, the KOF Economic Institute in Switzerland forecasted that the Swiss economy would grow by 0.9% in 2012, down from the prior estimate of 1.2%, while the estimate for 2013 was lowered to 1.3% from 1.7%. Also, Swiss foreign currency reserves rise to CHF429.3 billion in September, from CHF420.8 billion in August.

Technically, USD/CHF are predicted to find its first resistance at 0.9348, and a rose through might take it to the next resistance level of 0.9366. At the same time, the pair is predicted to find support at 0.9293, and a fell through might take it to the next support line of 0.9257.

Trading trends in the pair today are predicted to be determined by the release of the consumer price index (CPI) data & the unemployment rate in Switzerland.


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