USDCHF Movement
On Friday, the USD declined 0.25% against the CHF and closed at 0.9401.
In economic news, Switzerland’s GDP unexpectedly eased 0.2% QoQ in Q1 2015, reversing market expectations for an unchanged reading. The nation’s GDP had risen by a revised 0.5% in the previous quarter.
Other economic data showed that Switzerland’s KOF economic barometer advanced to 93.10 in May, from a revised level of 89.80 in the previous month. Markets were anticipating it to rise to a level of 89.90.
In the Asian session, at GMT0300, the pair is trading at 0.9428, with the USD trading 0.29% higher from Friday’s close.
The pair is expected to find support at 0.9357, and a fall through could take it to the next support level of 0.9286. The pair is expected to find its first resistance at 0.9490, and a rise through could take it to the next resistance level of 0.9552.
Moving ahead, investors would keep a close eye on Switzerland’s SVME PMI, scheduled in a few hours.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
