USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.66% against the CHF and closed at 0.9923.
In economic news, Switzerland’s consumer price inflation (CPI) slowed to 0.3% on a monthly basis in May, at par with market expectations. The CPI had recorded a level of 0.2% in the previous month. Moreover, the SVME manufacturing PMI climbed to a level of 48.6 in May, compared to a reading of 48.5 in the prior month. Market participants had envisaged the PMI to record an increase to a level of 48.8.
In the Asian session, at GMT0300, the pair is trading at 0.9928, with the USD trading 0.05% higher against the CHF from yesterday’s close.
The pair is expected to find support at 0.9893, and a fall through could take it to the next support level of 0.9857. The pair is expected to find its first resistance at 0.9982, and a rise through could take it to the next resistance level of 1.0035.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
