USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.42% against the CHF and closed at 0.9313.
In economic news, consumer prices in Switzerland rebounded 0.2% on a monthly basis in May, higher than market expected gain of 0.1% and following a 0.2% drop in April, thus easing concerns of deflation in the nation. Meanwhile, the seasonally adjusted unemployment rate remained steady at 3.3% in May, at par with market expectations.
In the Asian session, at GMT0300, the pair is trading at 0.9317, with the USD trading a tad higher from yesterday’s close.
The pair is expected to find support at 0.9264, and a fall through could take it to the next support level of 0.9212. The pair is expected to find its first resistance at 0.9351, and a rise through could take it to the next resistance level of 0.9386.
With no economic releases in Switzerland today, investor sentiment would be governed by global macroeconomic news.
The currency pair is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.
