USD/CHF: Switzerland’s KOF leading indicator surprisingly eased in December


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD declined 0.06% against the CHF and closed at 0.9940.

On the macro front, Switzerland’s KOF leading indicator unexpectedly slid to a level of 95.0 in December, following a reading of 96.3 in the previous month. Market participants had envisaged the indicator to advance to a level of 97.2.

In the Asian session, at GMT0400, the pair is trading at 0.9927, with the USD trading 0.13% lower against the CHF from yesterday’s close.

The pair is expected to find support at 0.9902, and a fall through could take it to the next support level of 0.9876. The pair is expected to find its first resistance at 0.9974, and a rise through could take it to the next resistance level of 1.0020.

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

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