USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.24% against the CHF and closed at 0.9080. In Switzerland, trade surplus narrowed to CHF1.030 billion in December, from a revised CHF2.905 billion surplus in November. Analysts had expected traded surplus to narrow to CHF2.500 billion. Imports declined to CHF13.046 billion, from CHF15.830 billion. However, exports decreased to CHF14.049 billion in December, from CHF18.775 billion in November.
Moreover, the greenback was pressured as the ISM non-manufacturing index slipped to a reading of 55.2 in January, from a revised reading of 55.7 in December.
In the Asian session, at GMT0400, the pair is trading at 0.9081, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 0.9052, and a fall through could take it to the next support level of 0.9024. The pair is expected to find its first resistance at 0.9113, and a rise through could take it to the next resistance level of 0.9146.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
