USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.08% against the CHF and closed at 0.8848.
On the economic front, Switzerland’s M3 money supply growth accelerated for the third consecutive month by 9.0% (YoY) in March, following an 8.7% rise in February.
In the Asian session, at GMT0300, the pair is trading at 0.8840, with the USD trading 0.09% lower from yesterday’s close.
The pair is expected to find support at 0.8827, and a fall through could take it to the next support level of 0.8814. The pair is expected to find its first resistance at 0.8858, and a rise through could take it to the next resistance level of 0.8876.
Amid lack of economic releases from Switzerland, later today, traders would eye global economic news for further cues in the currency pair.
The currency pair is trading just below its 20 Hr moving average and is showing convergence with its 50 Hr moving average.
