USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.87% against the CHF and closed at 0.9478. Encouraging Euro-zone manufacturing data along with an upbeat Swiss manufacturing PMI figure helped buoy the Swiss Franc.
According to Swiss Association of Purchasing and Materials Management, SVME manufacturing PMI in Switzerland rose to a reading of 52.2 in May, way above the expected reading of 50.8 and following a reading of 50.2 in April.
In the Asian session, at GMT0300, the pair is trading at 0.9491, with the USD trading 0.14% higher from yesterday’s close.
The pair is expected to find support at 0.9391, and a fall through could take it to the next support level of 0.9291. The pair is expected to find its first resistance at 0.9608, and a rise through could take it to the next resistance level of 0.9725.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
