USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.35% against the CHF and closed at 0.9751, after US new home sales surprisingly declined in March.
In economic news, Switzerland’s total sight deposits inched up to a level of CHF490.9 billion in the week ended 22 April, from CHF489.2 billion in the previous week.
In the Asian session, at GMT0300, the pair is trading at 0.9748, with the USD trading marginally lower from yesterday’s close.
The pair is expected to find support at 0.9729, and a fall through could take it to the next support level of 0.9711. The pair is expected to find its first resistance at 0.9773, and a rise through could take it to the next resistance level of 0.9798.
With no economic releases in Switzerland today, market participants will look forward to the nation’s UBS consumption indicator data for March, scheduled to release tomorrow.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
