USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.26% against the CHF and closed at 1.0110.
In economic news, Switzerland’s M3 money supply climbed 3.5% on an annual basis in April, compared to a revised rise of 3.6% in the prior month. Markets participants had expected M3 money supply to record a rise of 3.8%.
The Organisation for Economic Cooperation and Development (OECD) expects Switzerland’s economic growth for 2019 to decrease to 1.0%, compared to 2.5% in 2018. However, it expects economic growth in 2020 to improve to 1.5%.
In the Asian session, at GMT0300, the pair is trading at 1.0116, with the USD trading 0.06% higher against the CHF from yesterday’s close.
The pair is expected to find support at 1.0097, and a fall through could take it to the next support level of 1.0079. The pair is expected to find its first resistance at 1.0127, and a rise through could take it to the next resistance level of 1.0139.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
