USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.27% against the CHF and closed at 0.9448.
Yesterday, the ZEW Centre for European Economic Research reported that the Swiss economic expectations index decreased to a reading of 2.3 in March, from a reading of 10.0 reported in the previous month.
In the Asian session, at GMT0400, the pair is trading at 0.9450, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 0.9413, and a fall through could take it to the next support level of 0.9377. The pair is expected to find its first resistance at 0.9484, and a rise through could take it to the next resistance level of 0.9519.
In Switzerland, the trade balance data due later today is expected to show that surplus in February narrowed, while the SNB’s quarterly bulletin is also eagerly awaited by investors.
The currency pair is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
