USD/CHF: Switzerland’s consumer price index rose beyond estimates in March


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD declined 0.09% against the CHF and closed at 0.9981.

Data showed that Switzerland’s consumer price index (CPI) advanced 0.7% on an annual basis in March, compared to an advance of 0.6% in the previous month. Market participants had expected the CPI to record a gain of 0.5%.

In the Asian session, at GMT0300, the pair is trading at 0.9981, with the USD trading flat against the CHF from yesterday’s close.

The pair is expected to find support at 0.9969, and a fall through could take it to the next support level of 0.9956. The pair is expected to find its first resistance at 0.9997, and a rise through could take it to the next resistance level of 1.0012.

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

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