USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.13% against the CHF and closed at 1.0039.
On the macro front, Switzerland’s producer and import price index declined 0.2% on an annual basis in March, at par with market expectations. The index had recorded a fall of 0.7% in the previous month. Moreover, the nation’s total sight deposits dropped to a level of CHF567.7 billion in the week ended 12 April 2019, from CHF576.3 billion in the previous week.
In the Asian session, at GMT0300, the pair is trading at 1.0040, with the USD trading slightly higher against the CHF from yesterday’s close.
The pair is expected to find support at 1.0016, and a fall through could take it to the next support level of 0.9993. The pair is expected to find its first resistance at 1.0056, and a rise through could take it to the next resistance level of 1.0073.
With no macroeconomic releases in Switzerland today, investors would look forward to global macroeconomic events for further directions.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
