USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.25% against the CHF and closed at 0.9890.
In economic news, Switzerland’s industrial production advanced for the first time in more than a year by 1.0% YoY in 1Q 2016, following a 4.3% decline in the previous quarter.
In the Asian session, at GMT0300, the pair is trading at 0.9894, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 0.9865, and a fall through could take it to the next support level of 0.9837. The pair is expected to find its first resistance at 0.9924, and a rise through could take it to the next resistance level of 0.9955.
Going ahead, investors will look forward to Switzerland’s 1Q GDP, real retail sales, KOF leading indicator and the SVME PMI data, all scheduled to release next week.
The currency pair is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
