USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.25% against the CHF and closed at 0.9614.
On the data front, Switzerland’s gross domestic product fell 2.6% on a quarterly basis in the first quarter of 2020, more than market expectations for a fall of 2.2% and compared to a rise of 0.3% in the previous month.
In the Asian session, at GMT0300, the pair is trading at 0.9614, with the USD trading flat against the CHF from yesterday’s close.
The pair is expected to find support at 0.9598, and a fall through could take it to the next support level of 0.9582. The pair is expected to find its first resistance at 0.9639, and a rise through could take it to the next resistance level of 0.9664.
Looking forward, traders would keep a watch on Switzerland’s consumer price index for May, slated to release in a few hours.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
