USD/CHF: Swiss Franc trading marginally higher, ahead of Swiss inflation data


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD rose 0.24% against the CHF and closed at 1.0039.

In the Asian session, at GMT0300, the pair is trading at 1.0035, with the USD trading a tad lower from yesterday’s close.

The pair is expected to find support at 1.0004, and a fall through could take it to the next support level of 0.9974. The pair is expected to find its first resistance at 1.0071, and a rise through could take it to the next resistance level of 1.0108.

Looking ahead, Switzerland’s consumer price inflation data for March, slated to release in a few hours, will garner a significant amount of market attention.

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

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