USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.62% against the CHF and closed at 1.0014 on Friday.
In economic news, Switzerland’s real retail sales eased 0.7% on an annual basis in April, compared to market consensus for a fall of 0.8%. In the previous month, real retail sales had registered a similar fall.
In the Asian session, at GMT0300, the pair is trading at 0.9977, with the USD trading 0.37% lower against the CHF from Friday’s close.
The pair is expected to find support at 0.9948, and a fall through could take it to the next support level of 0.9918. The pair is expected to find its first resistance at 1.0036, and a rise through could take it to the next resistance level of 1.0094.
Moving ahead, traders would closely monitor Switzerland’s consumer price index and manufacturing PMI, both for May, set to release in a while.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
