USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.16% against the CHF and closed at 1.0004.
Macroeconomic data indicated that Switzerland’s total sight deposits inched up to a level of CHF576.2 billion in the week ended 11 May, from CHF575.9 billion in the previous week.
In the Asian session, at GMT0300, the pair is trading at 1.0004, with the USD trading flat against the CHF from yesterday’s close.
The pair is expected to find support at 0.9970, and a fall through could take it to the next support level of 0.9936. The pair is expected to find its first resistance at 1.0026, and a rise through could take it to the next resistance level of 1.0048.
Ahead in the day, Switzerland’s producer and import prices data for April, will be on investors’ radar.
The currency pair is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.
