USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.10% against the CHF and closed at 0.8814. However, dovish comments from the Fed Chief, Janet Yellen, kept the greenback’s gains in check.
Meanwhile, the Swiss Franc came under pressure after the ZEW survey on the Swiss economic expectations slipped for a fourth straight month to a reading of 7.0 in April, contradicting market estimates for a rise to 23.0, from previous month’s reading of 19.0.
In the Asian session, at GMT0300, the pair is trading at 0.8801, with the USD trading 0.15% lower from yesterday’s close.
The pair is expected to find support at 0.8777, and a fall through could take it to the next support level of 0.8754. The pair is expected to find its first resistance at 0.8827, and a rise through could take it to the next resistance level of 0.8854.
With no major economic releases from Switzerland, during the later part of the day, market participants would monitor global economic news for further cues in the currency pair.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
