USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.85% against the CHF and closed at 0.9027.
In Switzerland, the KOF leading indicator rose to a reading of 1.98 in January from a reading of 1.95 in December. Market expected the indicator to rise to a reading of 2.0.
In the Asian session, at 4:00GMT, the USD is trading at 0.9027, flat versus Swiss Franc, from yesterday’s close at 23:00 GMT.
With a void of any Swiss economic releases today, traders would shift their focus to global economic news and Monday’s manufacturing data from Switzerland.
The pair is expected to find support at 0.8974, and a fall through could take it to the next support level of 0.8920. The pair is expected to find its first resistance at 0.9065, and a rise through could take it to the next resistance level of 0.9102.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
