USD/CHF: Switzerland’s KOF leading indicator raised to a 3-month-high level in June


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD declined 0.75% against the CHF and closed at 0.9900 on Friday.

The Swiss Franc gained ground against the USD on Friday, after KOF economic barometer advanced above expectations to a 3-month-high level of 101.7 in June, defying market expectations of a drop to a level of 99.8. The barometer had recorded a level of 100.0 in the previous month.

In the Asian session, at GMT0300, the pair is trading at 0.9920, with the USD trading 0.20% higher against the CHF from Friday’s close.

The pair is expected to find support at 0.9884, and a fall through could take it to the next support level of 0.9849. The pair is expected to find its first resistance at 0.9965, and a rise through could take it to the next resistance level of 1.0011.

Trading trend in the Swiss franc will be determined by retail sales real data for May and manufacturing PMI for June slated to release in a while.

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

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