USD/CHF: Swiss Franc trading on a weaker footing, ahead of Switzerland’s real retail sales and SVME–PMI data


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD rose 0.35% against the CHF and closed at 0.9588 on Friday.

Macroeconomic data showed that Switzerland’s KOF leading indicator climbed more-than-anticipated to a level of 105.5 in June, compared to a revised level of 102.0 in the previous month, while market participants had envisaged for a rise to a level of 102.5.

In the Asian session, at GMT0300, the pair is trading at 0.9594, with the USD trading 0.06% higher against the CHF from Friday’s close.

The pair is expected to find support at 0.9568, and a fall through could take it to the next support level of 0.9542. The pair is expected to find its first resistance at 0.9609, and a rise through could take it to the next resistance level of 0.9624.

Ahead in the day, traders would focus on Switzerland’s real retail sales data for May and SVME–PMI for June.

The currency pair is trading above its 20 Hr and 50 Hr moving averages.

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