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Swiss Franc Trading Tad Lower, Ahead Of Switzerland’s Consumer Price Inf

Swiss Franc Trading Tad Lower, Ahead Of Switzerland’s Consumer Price Inf

USDCHF

USDCHF Movement

For the 24 hours to 23:00 GMT, the USD marginally rose against the CHF and closed at 0.9563.

In economic news, Switzerland’s foreign currency reserves advanced to a level of CHF575.8 billion in March, after recording a revised reading of CHF570.9 billion in the prior month.

In the Asian session, at GMT0300, the pair is trading at 0.9564, with the USD trading marginally higher from yesterday’s close.

The pair is expected to find support at 0.9529, and a fall through could take it to the next support level of 0.9494. The pair is expected to find its first resistance at 0.9591, and a rise through could take it to the next resistance level of 0.9618.

Moving ahead, market participants will look forward to the release of Switzerland’s unemployment rate and consumer price index data, both for the month of March, due in a few hours.

The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.

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