USDCHF Movement
For the 24 hours to 23:00 GMT on Friday, USD declined 0.57% against the CHF and closed at 0.9011. Swiss Franc advanced after Switzerland’s KOF economic indicator advanced in March, indicating that the economy is regaining some strength.
In Switzerland, the KOF Economic Barometer improved to a reading of 0.08 in March, compared to a revised reading of -0.11 in February.
In the Asian session, at GMT0300, the pair is trading at 0.9027, with the USD trading 0.05% higher from Friday’s close.
The pair is expected to find support at 0.9006, and a fall through could take it to the next support level of 0.8984. The pair is expected to find its first resistance at 0.9047, and a rise through could take it to the next resistance level of 0.9067.
Market participants are keenly eyeing the release of retail sales and SVME-Purchasing Managers Index data in Switzerland due later today.
The currency pair is converging with its 20 Hr and trading above its 50 Hr moving average.
