USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.28% against the CHF and closed at 0.9916. The Swiss Franc gained ground, after Switzerland’s KOF leading indicator advanced above expectations to a one-year high level of 102.9 in May. In the previous month, the indicator had recorded a revised reading of 102.6.
In the Asian session, at GMT0300, the pair is trading at 0.9913, with the USD trading marginally lower from yesterday’s close.
The pair is expected to find support at 0.9892, and a fall through could take it to the next support level of 0.9872. The pair is expected to find its first resistance at 0.9944, and a rise through could take it to the next resistance level of 0.9976.
With no economic releases in Switzerland today, market participants will look forward to the nation’s Q1 GDP, real retail sales and the SVME – purchasing managers’ index data, all scheduled to release tomorrow.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
