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


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD declined 1.55% against the CHF and closed at 0.9489.

In the Asian session, at GMT0300, the pair is trading at 0.9498, with the USD trading 0.09% higher against the CHF from yesterday’s close.

The pair is expected to find support at 0.9476, and a fall through could take it to the next support level of 0.9455. The pair is expected to find its first resistance at 0.9524, and a rise through could take it to the next resistance level of 0.9551.

Moving ahead, traders would keep a watch on Switzerland’s trade balance for May, followed by the Swiss National Bank’s interest rate decision, slated to release in a few hours.

The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.

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