USD/CHF: Swiss Franc trading a tad higher in the morning session


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD rose 0.16% against the CHF and closed at 1.0088.

On the data front, Switzerland’s total sight deposits rose to a level of CHF548.2 billion in the week ended 24 February, compared to CHF543.5 billion in the previous week

In the Asian session, at GMT0400, the pair is trading at 1.0083, with the USD trading slightly lower against the CHF from yesterday’s close.

The pair is expected to find support at 1.0050, and a fall through could take it to the next support level of 1.0016. The pair is expected to find its first resistance at 1.0109, and a rise through could take it to the next resistance level of 1.0134.

Ahead in the day, investors’ will focus on Switzerland’s KOF leading indicator data for February.

The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.

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