USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.81% against the CHF and closed at 0.9679.
Macroeconomic data indicated that Switzerland’s ZEW economic expectations index registered a rise to a level of 30.8 in May, after recording a reading of 22.2 in the prior month. Further, the nation’s UBS consumption indicator rose to a level of 1.48 in April. In the previous month, UBS consumption indicator had recorded a revised reading of 1.44.
In the Asian session, at GMT0300, the pair is trading at 0.9683, with the USD trading a tad higher against the CHF from yesterday’s close.
The pair is expected to find support at 0.9648, and a fall through could take it to the next support level of 0.9614. The pair is expected to find its first resistance at 0.9739, and a rise through could take it to the next resistance level of 0.9796.
Ahead in the day, all eyes will be on Switzerland’s 1Q GDP numbers, retail sales for April and SVME–PMI for May.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
