USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.44% against the CHF and closed at 0.8839.
The Swiss Franc advanced after data showed that, on a non-seasonally adjusted monthly basis, unemployment rate in Switzerland fell to 3.3% in March, from previous month’s level of 3.5% while Swiss real retail sales grew 1.0% (YoY) in February, following a 0.1 % drop in January.
In the Asian session, at GMT0300, the pair is trading at 0.8842, with the USD trading tad higher from yesterday’s close.
The pair is expected to find support at 0.8818, and a fall through could take it to the next support level of 0.8795. The pair is expected to find its first resistance at 0.8873, and a rise through could take it to the next resistance level of 0.8905.
Amid lack of Swiss economic releases, traders are expected to keep a tab on global economic news for further cues in the pair.
The currency pair is showing convergence with its 20 Hr moving average and is trading below its and 50 Hr moving average.
