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


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD declined 0.49% against the CHF and closed at 0.9591.

In the Switzerland, the KOF leading indicator eased to a four-month low of 92.9 in March, less than market expectations for a fall to a level of 82.5 and compared to a revised reading of 101.8 in the previous month.

In the Asian session, at GMT0300, the pair is trading at 0.9602, with the USD trading 0.11% higher against the CHF from yesterday’s close.

The pair is expected to find support at 0.9546, and a fall through could take it to the next support level of 0.9491. The pair is expected to find its first resistance at 0.9640, and a rise through could take it to the next resistance level of 0.9679.

Amid no macroeconomic releases in Switzerland today, investor sentiment would be governed by global macroeconomic factors.

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

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