USD/CHF: Swiss Franc extends its losses in the morning session


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD slightly rose against the CHF and closed at 1.0068 on Friday.

In the Asian session, at GMT0400, the pair is trading at 1.0076, with the USD trading 0.08% higher against the CHF from Friday’s close.

The pair is expected to find support at 1.0035, and a fall through could take it to the next support level of 0.9994. The pair is expected to find its first resistance at 1.0103, and a rise through could take it to the next resistance level of 1.0130.

With no major economic releases in Switzerland today, trading trend in the CHF is expected to be determined by global macroeconomic events.

The currency pair is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.

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