USD/CHF: Swiss KOF economic barometer surprisingly declined in January


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD declined 0.18% against the CHF and closed at 0.9948.

On the data front, Switzerland’s KOF economic barometer unexpectedly dropped to a level of 101.7 in January, defying market expectations for a rise to a level of 102.9 and compared to a revised level of 102.1 in the prior month. Also, the nation’s total sight deposits inched up to a level of CHF532.8 billion in the week ended 27 January, from CHF532.3 billion in the previous week.

In the Asian session, at GMT0400, the pair is trading at 0.9948, with the USD trading flat against the CHF from yesterday’s close.

The pair is expected to find support at 0.9903, and a fall through could take it to the next support level of 0.9859. The pair is expected to find its first resistance at 1.0018, and a rise through could take it to the next resistance level of 1.0089.

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

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