USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 1.13% against the CHF and closed at 0.9772. The Swiss Franc came under pressure, following the release of weaker-than-expected Swiss trade data for April.
Switzerland’s trade surplus narrowed to CHF1.73 billion in April, compared to a surplus of CHF1.89 billion recorded in the previous month. Market had expected the trade surplus to widen to CHF2.05 billion. In a separate report, employment level rose to 4.15 million in the Q12013, compared to a level of 4.12 million recorded in the previous quarter.
In the Asian session, at GMT0300, the pair is trading at 0.9752, with the USD trading 0.20% lower from yesterday’s close.
The pair is expected to find support at 0.9677, and a fall through could take it to the next support level of 0.9603. The pair is expected to find its first resistance at 0.9805, and a rise through could take it to the next resistance level of 0.9859.
In Switzerland, the UBS consumption indicator is scheduled for release later today, which would indicate consumption trends among consumers for the April.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
