USD/CHF: Switzerland’s KOF economic barometer dropped more-than-expected in December


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD marginally rose against the CHF and closed at 0.9854 on Friday.

Macroeconomic data revealed that Switzerland’s KOF economic barometer fell to a level of 96.3 in December, more than market anticipations for a drop to a level of 98.8. In the preceding month, the KOF economic barometer had recorded a revised reading of 98.9.

In the Asian session, at GMT0400, the pair is trading at 0.9847, with the USD trading 0.07% lower against the CHF from Friday’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 0.9760. The pair is expected to find its first resistance at 0.9878, and a rise through could take it to the next resistance level of 0.9908.

Trading trend in the Swiss Franc today is expected to be determined by total sight deposits, set to release in a while.

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

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