USD/CHF: Swiss Franc trading higher, ahead of Switzerland’s trade balance data for April


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD declined 0% against the CHF and closed at 0.9739.

On macro front, Switzerland’s total sight deposits rose to a level of CHF575.5 billion in the week ended 19 May, from a level of CHF575.0 billion in the previous week.

In the Asian session, at GMT0300, the pair is trading at 0.9725, with the USD trading 0.14% lower from yesterday’s close.

The pair is expected to find support at 0.9728, and a fall through could take it to the next support level of 0.9716. The pair is expected to find its first resistance at 0.9758, and a rise through could take it to the next resistance level of 0.9776.

The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.

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