USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.13% against the CHF and closed at 0.9943.
In economic news, Switzerland’s trade surplus slightly narrowed to a level of CHF3.10 billion in March, compared to a revised surplus of CHF3.12 billion in the prior month.
In the Asian session, at GMT0300, the pair is trading at 0.9941, with the USD trading a tad lower against the CHF from yesterday’s close.
The pair is expected to find support at 0.9918, and a fall through could take it to the next support level of 0.9896. The pair is expected to find its first resistance at 0.9963, and a rise through could take it to the next resistance level of 0.9986.
Moving ahead, investors will eye comments from the Swiss National Bank’s (SNB) Chief, Thomas Jordan, as he is scheduled to speak in a few hours. Also, traders would look forward to Switzerland’s KOF leading indicator for April, slated to release today.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
