USDCHF Movement
For the 24 hours to 23:00 GMT, USD rose 0.11% against the CHF and closed at 0.9441. The Swiss Franc came under pressure after data showed that economic sentiment in Switzerland deteriorated in May.
Yesterday, the Centre for European Economic Research (ZEW) reported that its indicator of economic sentiment fell to a reading of -4.0 in May, from a reading of 2.1 in April.
In the Asian session, at GMT0300, the pair is trading at 0.9427, with the USD trading 0.15% lower from yesterday’s close.
The pair is expected to find support at 0.9404, and a fall through could take it to the next support level of 0.9381. The pair is expected to find its first resistance at 0.9460, and a rise through could take it to the next resistance level of 0.9494.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
