USD/CHF: Swiss Franc trading a tad higher in the Asian session


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD slightly declined against the CHF and closed at 1.0194.

In economic news, Switzerland’s total sight deposits eased to a level of CHF576.7 billion in the week ended 26 April, from CHF576.9 billion in the previous week.

In the Asian session, at GMT0300, the pair is trading at 1.0193, with the USD trading marginally lower against the CHF from yesterday’s close.

The pair is expected to find support at 1.0180, and a fall through could take it to the next support level of 1.0167. The pair is expected to find its first resistance at 1.0211, and a rise through could take it to the next resistance level of 1.0229.

Trading trend in the Swiss Franc today is expected to be determined by Switzerland’s KOF leading indicator for April, slated to release in a while.

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

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