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


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD declined 0.26% against the CHF and closed at 0.9448.

In the Asian session, at GMT0300, the pair is trading at 0.9441, with the USD trading 0.07% lower against the CHF from yesterday’s close.

The pair is expected to find support at 0.9414, and a fall through could take it to the next support level of 0.9386. The pair is expected to find its first resistance at 0.9475, and a rise through could take it to the next resistance level of 0.9508.

Moving forward, traders would keep a watch on Switzerland’s ZEW survey expectations for June, slated to release in a few hours.

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

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