USD/CHF: Swiss consumer prices declined in January


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD rose 0.1% against the CHF and closed at 0.9391.

On the data front, Switzerland’s consumer price index (CPI) slid 0.1% on a monthly basis in January, less than market expectations for a fall of 0.2%. The CPI had registered a flat reading in the previous month.

In the Asian session, at GMT0400, the pair is trading at 0.9391, with the USD trading flat against the CHF from yesterday’s close.

The pair is expected to find support at 0.9369, and a fall through could take it to the next support level of 0.9348. The pair is expected to find its first resistance at 0.9407, and a rise through could take it to the next resistance level of 0.9424.

Moving ahead, Switzerland’s producer and import prices data for January, set to release in a few hours, will be on investors’ radar.

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

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