USDCHF Movement
On Friday, the USD rose 0.57% against the CHF and closed at 0.9351.
In Switzerland, foreign currency reserves widened to CHF441.4 billion in May from CHF436.1 billion recorded in April. Market had expected foreign currency reserves to rise to CHF440.50 billion.
In the Asian session, at GMT0300, the pair is trading at 0.9368, with the USD trading 0.18% higher from Friday’s close.
The pair is expected to find support at 0.9286, and a fall through could take it to the next support level of 0.9203. The pair is expected to find its first resistance at 0.9415, and a rise through could take it to the next resistance level of 0.9461.
Later today, investors forecast an increase in Switzerland’s unemployment rate in May while the real retail sales is expected to mark an improvement in April.
The currency pair is trading just above its 20 Hr and 50 Hr moving averages.
