Swiss Gross Domestic Product Down 1Q 2020| Instant News

For 24 hours until 23:00 GMT, the USD was down 0.25% against CHF and closed at 0.9614.

On the data side, Switzerland’s gross domestic product fell 2.6% on a quarterly basis in the first quarter of 2020, more than market expectations for a 2.2% decline and compared to a 0.3% increase in the previous month.

In the Asian session, at GMT0300, the pair is trading at 0.9614, with the USD trading flat against CHF from yesterday’s close.

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The pair is expected to find support at 0.9598, and a further decline could take it to the next support level at 0.9582. The pair is expected to find the first resistance at 0.9639, and a further advance could bring it to the next resistance level at 0.9664.

Looking ahead, traders will be watching the Swiss consumer price index for May, which is scheduled to be released in a few hours.

The currency pair shows convergence with 20 Hr and 50 Hr moving averages.

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