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


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD declined 0.17% against the CHF and closed at 1.0081.

On the data front, Switzerland’s total sight deposits advanced to a level of CHF564.1 billion in the week ended 07 April, from CHF561.7 billion reported in the previous week.

In the Asian session, at GMT0300, the pair is trading at 1.0088, with the USD trading 0.07% higher against the CHF from yesterday’s close.

The pair is expected to find support at 1.0072, and a fall through could take it to the next support level of 1.0055. The pair is expected to find its first resistance at 1.0106, and a rise through could take it to the next resistance level of 1.0123.

Amid no economic releases in Switzerland today, trading trend in the CHF is expected to be determined by global macroeconomic news.

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

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