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


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD declined 0.63% against the CHF and closed at 0.9818.

Data showed that total sight deposits fell to a level of CHF574.2 billion in the week ended 28 December 2018, compared to a level of CHF575.5 billion in the previous week.

In the Asian session, at GMT0400, the pair is trading at 0.9837, with the USD trading 0.19% higher against the CHF from yesterday’s close.

The pair is expected to find support at 0.9804, and a fall through could take it to the next support level of 0.977. The pair is expected to find its first resistance at 0.9876, and a rise through could take it to the next resistance level of 0.9914.

Amid no major economic releases in Switzerland today, investor sentiment will be determined by global macroeconomic news.

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

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