USDCHF Movement
On Friday, the USD rose 0.56% against the CHF and closed at 0.9601.
On the economic front, Switzerland’s KOF leading indicator edged up to a reading of 1.10 in May, from an upwardly revised reading of 1.04 registered in April.
In the Asian session, at GMT0300, the pair is trading at 0.9566, with the USD trading 0.36% lower from Friday’s close.
The pair is expected to find support at 0.9508, and a fall through could take it to the next support level of 0.9451. The pair is expected to find its first resistance at 0.9625, and a rise through could take it to the next resistance level of 0.9685.
The scheduled SVME PMI in Switzerland is eyed by investors and is forecast to show a slight rise in May.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
