USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.81% against the CHF and closed at 0.9716.
On the data front, Switzerland’s industrial production rose 0.8% on a yearly basis in the first quarter of 2020, compared to a revised rise of 1.4% in the previous quarter.
In the Asian session, at GMT0300, the pair is trading at 0.9707, with the USD trading 0.09% lower against the CHF from yesterday’s close.
The pair is expected to find support at 0.9696, and a fall through could take it to the next support level of 0.9685. The pair is expected to find its first resistance at 0.9727, and a rise through could take it to the next resistance level of 0.9747.
Moving ahead, traders would keep an eye on Switzerland’s trade balance for April, slated to release in a few hours.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
