USDCHF Movement
For the 24 hours to 23:00 GMT, the USD slightly declined against the CHF and closed at 1.0192.
Data indicated that Switzerland’s KOF leading indicator eased to a level of 96.2 in April, following a reading of 97.4 in the prior month. Market participants had envisaged the indicator to record a reading of 97.0.
In the Asian session, at GMT0300, the pair is trading at 1.0192, with the USD trading flat against the CHF from yesterday’s close.
The pair is expected to find support at 1.0176, and a fall through could take it to the next support level of 1.016. The pair is expected to find its first resistance at 1.0206, and a rise through could take it to the next resistance level of 1.0220.
In absence of macroeconomic releases in Switzerland today, investors would focus on global macroeconomic releases for further cues.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
