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


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD marginally rose against the CHF and closed at 0.9641.

In the Asian session, at GMT0400, the pair is trading at 0.9697, with the USD trading 0.58% higher against the CHF from yesterday’s close.

The pair is expected to find support at 0.9593, and a fall through could take it to the next support level of 0.9488. The pair is expected to find its first resistance at 0.9776, and a rise through could take it to the next resistance level of 0.9854.

Moving ahead, traders would keep an eye on Switzerland’s trade balance for February and the Swiss National Bank’s interest rate decision, due to release in a few hours.

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

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