USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.07% against the CHF and closed at 0.9955.
On Friday, data showed that Switzerland’s KOF leading indicator unexpectedly dropped to a level of 106.0 in April, compared to market expectations of a rise to a level of 107.5. In the prior month, the index had registered a revised level of 107.2.
In the Asian session, at GMT0300, the pair is trading at 0.9956, with the USD trading a tad higher against the CHF from yesterday’s close.
The pair is expected to find support at 0.9934, and a fall through could take it to the next support level of 0.9911. The pair is expected to find its first resistance at 0.9972, and a rise through could take it to the next resistance level of 0.9987.
Moving ahead, traders will focus on Switzerland’s SVME–PMI for April, scheduled to release in a few hours.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
