USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.13% against the CHF and closed at 0.9892.
In economic news, Switzerland’s total sight deposits inched up to a level of CHF493.6 billion for the week ended 20 May, from CHF492.8 billion for the previous week.
In the Asian session, at GMT0300, the pair is trading at 0.9902, with the USD trading 0.1% higher from yesterday’s close.
The pair is expected to find support at 0.9880, and a fall through could take it to the next support level of 0.9858. The pair is expected to find its first resistance at 0.9923, and a rise through could take it to the next resistance level of 0.9944.
Going ahead, market participants will look forward to the release of Switzerland’s trade balance data for April, due in a few hours.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
