USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 1.47% against the CHF and closed at 0.9556.
The Swiss Franc gained ground, after Switzerland’s trade surplus unexpectedly widened to CHF2.52 billion in March, more than market expectations of a trade surplus of CHF2.12 billion. The nation had registered a revised trade surplus of CHF2.32 billion in the previous month.
In the Asian session, at GMT0300, the pair is trading at 0.9568, with the USD trading 0.12% higher from yesterday’s close.
The pair is expected to find support at 0.9493, and a fall through could take it to the next support level of 0.9419. The pair is expected to find its first resistance at 0.9679, and a rise through could take it to the next resistance level of 0.9791.
With no economic releases in Switzerland today, investors look forward to the SNB Chief, Thomas Jordan’s speech, scheduled in a few hours.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
