USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.17% against the CHF and closed at 0.9654.
On the data front, Switzerland’s trade surplus widened to CHF4.04 million in April, following a revised surplus of CHF3.96 million in the prior month.
In the Asian session, at GMT0300, the pair is trading at 0.9665, with the USD trading 0.11% higher against the CHF from yesterday’s close.
The pair is expected to find support at 0.9637, and a fall through could take it to the next support level of 0.9609. The pair is expected to find its first resistance at 0.9703, and a rise through could take it to the next resistance level of 0.9741.
Moving forward, traders would keep an eye on Switzerland’s ZEW survey – expectations for May, 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.
