USD/CHF: Swiss Franc reverses its gains in the Asian session


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD declined slightly against the CHF and closed at 0.9883.

In economic news, Switzerland’s total sight deposits eased to a level of CHF576.5 billion in the week ended 01 June, from CHF576.6 billion in the previous week.

In the Asian session, at GMT0300, the pair is trading at 0.9886, with the USD trading marginally higher against the CHF from yesterday’s close.

The pair is expected to find support at 0.9846, and a fall through could take it to the next support level of 0.9807. The pair is expected to find its first resistance at 0.9909, and a rise through could take it to the next resistance level of 0.9933.

With no macroeconomic releases in Switzerland today, investors would look forward to global macroeconomic releases for further direction.

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

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