USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.35% against the CHF and closed at 0.9927.
In economic news, Switzerland’s trade surplus widened to CHF2.5 billion in April, compared to a revised trade surplus of CHF2.2 billion in the previous month. Meanwhile, the nation’s exports rebounded by 0.3% and imports declined by 3.1%, on a monthly basis in April.
In the Asian session, at GMT0300, the pair is trading at 0.9923, with the USD trading marginally lower from yesterday’s close.
The pair is expected to find support at 0.9899, and a fall through could take it to the next support level of 0.9875. The pair is expected to find its first resistance at 0.9942, and a rise through could take it to the next resistance level of 0.9961.
Moving ahead, investors will look forward to Swiss UBS consumption indicator and the ZEW expectations index data, scheduled to be released in a few hours.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
