USD/CHF: Swiss Franc trading a tad higher this morning


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD declined 0.56% against the CHF and closed at 0.9958.

On the economic front, Switzerland’s producer and import prices unexpectedly dropped 0.2% on a monthly basis in April, compared to market expectations for a flat reading. The index had climbed 0.1% in the prior month.

In the Asian session, at GMT0300, the pair is trading at 0.9953, with the USD trading slightly lower against the CHF from yesterday’s close.

The pair is expected to find support at 0.9930, and a fall through could take it to the next support level of 0.9907. The pair is expected to find its first resistance at 0.9997, and a rise through could take it to the next resistance level of 1.0041.

With no economic releases in Switzerland today, investor sentiment would be governed by global macroeconomic news.

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

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