USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 1.67% against the CHF and closed at 0.9399, on the back of downbeat annualized GDP data in the US.
The Swiss Franc gained ground, after Switzerland’s UBS consumption indicator advanced to 1.35 in March, following a revised level of 1.21 registered in the previous month.
In the Asian session, at GMT0300, the pair is trading at 0.9402, with the USD trading slightly higher from yesterday’s close.
The pair is expected to find support at 0.9304, and a fall through could take it to the next support level of 0.9205. 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 0.9672.
Moving ahead, market participants would keep a close eye on Switzerland’s KOF leading indicator data, set for release in a few hours.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
