USD/CHF: Swiss Franc trading lower in the morning session


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD rose 0.43% against the CHF and closed at 1.0004.

On the macro front, Switzerland’s KOF economic barometer unexpectedly rose to a level of 107.6 in March, defying market consensus for a fall to a level of 105.8 and following a revised reading of 106.9 in the prior month.

In the Asian session, at GMT0300, the pair is trading at 1.0010, with the USD trading 0.06% higher against the CHF from yesterday’s close.

The pair is expected to find support at 0.9967, and a fall through could take it to the next support level of 0.9923. The pair is expected to find its first resistance at 1.0034, and a rise through could take it to the next resistance level of 1.0057.

With no economic 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.

This entry was posted in USD/CHF. Bookmark the permalink.

Comments are closed.