USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined marginally against the CHF and closed at 0.9344.
The Swiss Franc was supported by reports showing a 3.3% (YoY) rise in Switzerland’s retail sales in April, above the market expectation of a rise of 2.4% and compared to a revised drop of 0.8% reported in the previous month. Also yesterday, Switzerland’s seasonally adjusted unemployment rate advanced to 3.2% in May, from a rate of 3.1% recorded in April.
In the Asian session, at GMT0300, the pair is trading at 0.932, with the USD trading 0.26% lower from yesterday’s close.
The pair is expected to find support at 0.9277, and a fall through could take it to the next support level of 0.9233. The pair is expected to find its first resistance at 0.9392, and a rise through could take it to the next resistance level of 0.9463.
Trading trends in the pair today are expected to be determined by the release of SECO’s economic forecasts data in Switzerland.
The currency pair is trading just below with its 20 Hr and 50 Hr moving averages.
