USD/CHF: Swiss Franc trading on a stronger footing this morning


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD traded flat against the CHF and closed at 1.0042.

On Thursday, data indicated that Switzerland’s producer and import price index climbed 0.1% MoM in March, in line with market expectations. In the previous month, the index had fallen 0.2%.

In the Asian session, at GMT0300, the pair is trading at 1.0034, with the USD trading 0.08% lower against the CHF from yesterday’s close.

The pair is expected to find support at 1.0011, and a fall through could take it to the next support level of 0.9987. The pair is expected to find its first resistance at 1.0055, and a rise through could take it to the next resistance level of 1.0075.

Amid a lack of economic releases in Switzerland today, investor sentiment would be governed by global macroeconomic factors.

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

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