USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.10% against the CHF and closed at 0.9713.
The Swiss Franc gained ground, after Switzerland’s consumer price index (CPI) rose more-than-expected by 0.3% MoM in April, its third consecutive increase, compared to market expectations for a rise of 0.1%. In the previous month, the CPI had registered a rise of 0.3%.
In the Asian session, at GMT0300, the pair is trading at 0.9718, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 0.9692, and a fall through could take it to the next support level of 0.9666. The pair is expected to find its first resistance at 0.9735, and a rise through could take it to the next resistance level of 0.9753.
Going ahead, investors will look forward to Switzerland’s unemployment rate data for April, scheduled to release in a few hours.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
