USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.09% against the CHF and closed at 0.9951 on Friday.
In economic news, Switzerland’s manufacturing PMI dropped to 54.3 in January, more than market consensus for a fall to a level of 56.4. The PMI had recorded a revised reading of 57.5. Moreover, the nation’s real retail sales slid 0.3% on a yearly basis in December, compared to a fall of 0.5% in the previous month. Meanwhile, the SECO consumer confidence rose to a level of -4.0 in January, surpassing market expectations for a rise to a level of -5.0 and compare to a level of -6.0 in December.
In the Asian session, at GMT0400, the pair is trading at 0.9965, with the USD trading 0.14% higher against the CHF from Friday’s close.
The pair is expected to find support at 0.9935, and a fall through could take it to the next support level of 0.9905. The pair is expected to find its first resistance at 0.9982, and a rise through could take it to the next resistance level of 0.9999.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
