USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose marginally against the CHF and closed at 0.9300. In economic news, data from a survey by the Center for European Economic Research (ZEW) and Credit Suisse showed that expectations for the Swiss economy turning more optimistic in January, marking the fourth successive improvement in sentiment.
The ZEW economic expectations index edged up to a reading of -6.9 in January, from a reading of -15.5 in December. Market had expected the index to improve to -5.0.
In the Asian session, at GMT0400, the pair is trading at 0.9302, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 0.9280, 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 0.9320, and a rise through could take it to the next resistance level of 0.9339.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
