USD/CHF: Swiss Franc trading lower in the Asian session


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD declined 0.14% against the CHF and closed at 0.9696 yesterday. Data showed that Switzerland’s KOF economic indicator registered a reading of 100.10 in January, more than market expectations of a rise to a level of 97.00 and compared to a revised reading of 96.20 in the previous month.

In the Asian session, at GMT0400, the pair is trading at 0.9708, with the USD trading 0.12% higher against the CHF from yesterday’s close.

The pair is expected to find support at 0.9683, and a fall through could take it to the next support level of 0.9657. The pair is expected to find its first resistance at 0.9731, and a rise through could take it to the next resistance level of 0.9753.

Ahead in the day, market participants would keep a close watch on Switzerland’s real retail sales data.

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

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