USD/CHF: Swiss Franc trading on a stronger footing this morning


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD rose 0.17% against the CHF and closed at 0.9654 on Friday.

On the data front, Switzerland’s KOF leading indicator unexpectedly advanced to a level of 100.9 in February, defying market expectations for a drop to a level of 97.5 and compared to a level of 100.1 in the previous month. On the other hand, real retail sales fell 0.1% on a yearly basis in January, confounding market consensus for rise of 0.3% and compared to a revised increase of 0.8% in the prior month.

In the Asian session, at GMT0400, the pair is trading at 0.9641, with the USD trading 0.13% lower against the CHF from Friday’s close.

The pair is expected to find support at 0.9602, and a fall through could take it to the next support level of 0.9564. The pair is expected to find its first resistance at 0.9687, and a rise through could take it to the next resistance level of 0.9734.

Trading trend in the pair today is expected to be determined by Switzerland’s SVME Purchasing Managers’ Index for February, slated to release in a few hours.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.

This entry was posted in USD/CHF. Bookmark the permalink.

Comments are closed.