USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.32% against the CHF and closed at 0.9497.
In economic news, Switzerland’s UBS consumption indicator eased to a level of 1.25 in April, following a reading of 1.34 registered in the previous month.
In the Asian session, at GMT0300, the pair is trading at 0.9494, with the USD trading a tad lower from yesterday’s close.
The pair is expected to find support at 0.9458, and a fall through could take it to the next support level of 0.9423. The pair is expected to find its first resistance at 0.9537, and a rise through could take it to the next resistance level of 0.9581.
Going forward, investors would closely monitor Switzerland’s trade balance as well as industrial production data, scheduled in a few hours.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
