USD/CHF: Swiss ZEW economic expectations index eased in January


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD declined 0.33% against the CHF and closed at 0.9316.

On the economic front, Switzerland’s ZEW economic expectations index dropped to a level of 34.5 in January, after recording a level of 52.0 in the previous month. Also, the nation’s UBS consumption indicator fell to a level of 1.69 in December, compared to a revised reading of 1.73 in the previous month.

In the Asian session, at GMT0400, the pair is trading at 0.9315, with the USD trading slightly lower against the CHF from yesterday’s close.

The pair is expected to find support at 0.9287, and a fall through could take it to the next support level of 0.9259. The pair is expected to find its first resistance at 0.9345, and a rise through could take it to the next resistance level of 0.9375.

Moving ahead, market participants would closely monitor Switzerland’s SECO consumer confidence index and the SVME-PMI, both for January along with the nation’s real retail sales for December, set to release in a few hours.

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

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