USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.54% against the CHF and closed at 0.9649.
In economic news, Switzerland’s foreign currency reserves rose to a level of CHF602.1 billion in May, from a level of CHF587.9 billion in the previous month.
In the Asian session, at GMT0300, the pair is trading at 0.9644, with the USD trading marginally lower against the Swiss Franc from yesterday’s close.
The pair is expected to find support at 0.9618, and a fall through could take it to the next support level of 0.9592. The pair is expected to find its first resistance at 0.9692, and a rise through could take it to the next resistance level of 0.9740.
Going ahead, investors will look forward to Switzerland’s consumer price index (CPI) data for May, scheduled to release in a few hours.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
