USD/CHF: Switzerland’s M3 money supply climbed in March


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD rose 0.46% against the CHF and closed at 1.0202.

Data indicated that Switzerland’s M3 money supply advanced 3.5% on a yearly basis in March, following a similar rise in the prior month. Further, the nation’s total sight deposits rose to a level of CHF576.9 billion in the week ended 19 April 2019, from CHF576.7 billion in the previous week.

In the Asian session, at GMT0300, the pair is trading at 1.0208, with the USD trading 0.06% higher against the CHF from yesterday’s close.

The pair is expected to find support at 1.0166, and a fall through could take it to the next support level of 1.0123. The pair is expected to find its first resistance at 1.0241, and a rise through could take it to the next resistance level of 1.0273.

With no macroeconomic releases in Switzerland today, investors would look forward to global macroeconomic releases for further direction.

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

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