USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.17% against the CHF and closed at 0.9654.
On the data front, Switzerland’s SVME – Purchasing Managers’ Index dropped to 40.7 in April, less than market forecast and compared to a level of 43.7 in the previous month.
In the Asian session, at GMT0300, the pair is trading at 0.9653, with the USD trading marginally lower against the CHF from yesterday’s close.
The pair is expected to find support at 0.9633, and a fall through could take it to the next support level of 0.9613. The pair is expected to find its first resistance at 0.9668, and a rise through could take it to the next resistance level of 0.9683.
Moving forward, traders would keep a watch on Switzerland’s consumer price index for April and the SECO consumer climate for 2Q2020, 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.
