USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.27% against the CHF and closed at 0.9664.
In Switzerland, the SVME manufacturing PMI declined to a level of 43.7, less than market forecast for a fall to a level of 40.0. In the previous month, the manufacturing PMI had recorded a level of 49.5.
In the Asian session, at GMT0300, the pair is trading at 0.9681, with the USD trading 0.18% higher against the CHF from yesterday’s close.
The pair is expected to find support at 0.9626, and a fall through could take it to the next support level of 0.9570. The pair is expected to find its first resistance at 0.9714, and a rise through could take it to the next resistance level of 0.9746.
Moving forward, traders would keep an eye on Switzerland’s consumer price index for March, slated to release in a few hours.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
