USDCHF Movement
On Friday, the USD declined 0.68% against the CHF and closed at 0.9330.
In economic news, foreign currency reserves in Switzerland rose to CHF438.3 billion in March, from revised CHF430.0 billion recorded in the previous month.
In the Asian session, at GMT0300, the pair is trading at 0.9347, with the USD trading 0.18% higher from Friday’s close.
The pair is expected to find support at 0.9295, and a fall through could take it to the next support level of 0.9243. The pair is expected to find its first resistance at 0.9417, and a rise through could take it to the next resistance level of 0.9487.
Trading trends in the pair today are expected to be determined by industrial production data scheduled to be released later in the day.
The currency pair is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
