USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.11% against the CHF and closed at 0.8877.
On the economic front, real retail sales in the Swiss economy rose at an annualized rate of 3.0% in March, compared to a revised gain of 1.2% in February. Analysts had expected the real retail sales to register a year-on-year growth of 1.9% in March.
In the Asian session, at GMT0300, the pair is trading at 0.8878, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 0.8861, and a fall through could take it to the next support level of 0.8845. The pair is expected to find its first resistance at 0.8890, and a rise through could take it to the next resistance level of 0.8903.
With no major economic releases from Switzerland, during the later course of the day, market participants are expected to eye global economic news for further cues in the currency pair.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
