USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose marginally against the CHF and closed at 0.9413. The greenback registered some gains after the ISM non-manufacturing PMI came in better-than-expected in February.
In the Asian session, at GMT0400, the pair is trading at 0.9409, with the USD trading marginally lower from yesterday’s close.
The pair is expected to find support at 0.9389, and a fall through could take it to the next support level of 0.9370. The pair is expected to find its first resistance at 0.9431, and a rise through could take it to the next resistance level of 0.9454.
With no economic releases on the deck today in Switzerland, trading trends in the pair today is likely to be impacted by the release of ADP employment change data and the Fed’s Beige Book in the US.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
