USDCHF Movement
On Friday, the USD declined 0.21% against the CHF and closed at 0.9437. The Swiss Franc had some news to cheer as Switzerland’s KOF leading indicator rose to a reading of 1.16 in June, following a revised reading of 1.09 in May.
In the Asian session, at GMT0300, the pair is trading at 0.9448, with the USD trading 0.12% higher from Friday’s close.
The pair is expected to find support at 0.9414, and a fall through could take it to the next support level of 0.9380. The pair is expected to find its first resistance at 0.9479, and a rise through could take it to the next resistance level of 0.9510.
SVME purchasing managers’ index (PMI) in Switzerland is the key economic indicator scheduled for release later today.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving average.
