USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.40% against the CHF and closed at 0.9719.
In economic news, Switzerland’s foreign currency reserves rose to a level of CHF587.6 billion in April, following a reading of CHF575.8 billion in the previous month.
In the Asian session, at GMT0300, the pair is trading at 0.9721, with the USD trading marginally higher from Friday’s close.
The pair is expected to find support at 0.9669, and a fall through could take it to the next support level of 0.9616. The pair is expected to find its first resistance at 0.9756, and a rise through could take it to the next resistance level of 0.9790.
Going ahead, investors will look forward to Switzerland’s consumer price index data for April, scheduled to release in a few hours.
The currency pair is trading above its 20 Hr and 50 Hr moving average.
