USD/CHF: Switzerland’s real retail sales rose in May


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD declined 0.43% against the CHF and closed at 0.9471.

On the data front, Switzerland’s real retail sales jumped 6.6% on a yearly basis in May, compared to a revised drop of 18.8 in the previous month. On the flipside, the KOF leading indicator climbed to 59.4 in June, undershooting market consensus for a rise to 77.0 and compared to a revised reading of 49.6 in the earlier month.

In the Asian session, at GMT0300, the pair is trading at 0.9465, with the USD trading 0.06% lower against the CHF from yesterday’s close.

The pair is expected to find support at 0.9440, and a fall through could take it to the next support level of 0.9416. The pair is expected to find its first resistance at 0.9511, and a rise through could take it to the next resistance level of 0.9558.

Looking forward, traders would keep a watch on Switzerland’s SVME Purchasing Managers’ Index for June, slated to release in a few hours.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.

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