USD/CHF: Switzerland’s consumer price inflation advanced as expected in April


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD declined 0.13% against the CHF and closed at 1.0077.

Macroeconomic data showed that Switzerland’s consumer price index advanced 0.2% MoM in April, meeting market expectations and compared to a similar rise in the prior month.

In the Asian session, at GMT0300, the pair is trading at 1.0074, with the USD trading a tad lower against the CHF from yesterday’s close.

The pair is expected to find support at 1.0052, and a fall through could take it to the next support level of 1.0031. The pair is expected to find its first resistance at 1.0097, and a rise through could take it to the next resistance level of 1.0121.

The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.

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