USD/CHF: Swiss SECO consumer sentiment surprisingly fell in April


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD declined 0.83% against the CHF and closed at 0.9859.

In economic news, Switzerland’s SECO consumer confidence index unexpectedly fell to a level of -8.0 in April, compared to a reading of -3.0 in January. Markets expected the index to climb to a level of 3.0.

In the Asian session, at GMT0300, the pair is trading at 0.9864, with the USD trading a tad higher against the CHF from yesterday’s close.

The pair is expected to find support at 0.9828, and a fall through could take it to the next support level of 0.9792. The pair is expected to find its first resistance at 0.9928, and a rise through could take it to the next resistance level of 0.9992.

Next week, market participants will closely monitor Switzerland’s unemployment rate and consumer price inflation data.

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

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