USD/CHF: Switzerland’s real retail sales dropped in May, SVME–PMI jumped in June


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD rose 0.46% against the CHF and closed at 0.9635.

On the data front, Switzerland’s real retail sales slid 0.3% on an annual basis in May, after recording a revised drop of 0.9% in the previous month. On the other hand, the nation’s SVME manufacturing PMI rose more-than-anticipated to a level of 60.1 in June, compared to market expectations of a rise to a level of 56.3. In the prior month, the PMI had registered a reading of 55.6.

In the Asian session, at GMT0300, the pair is trading at 0.9635, with the USD trading flat against the CHF from yesterday’s close.

The pair is expected to find support at 0.9600, and a fall through could take it to the next support level of 0.9566. The pair is expected to find its first resistance at 0.9656, and a rise through could take it to the next resistance level of 0.9678.

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

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