USD/CHF: Swiss Franc trading higher ahead of ZEW data

USDCHF

USDCHF Movement

For the 24 hours to 23:00 GMT, the USD declined 0.43% against the CHF and closed at 0.8880, hurt by a lacklustre New York Empire State manufacturing and NAHB housing market data for February.

In the Asian session, at GMT0400, the pair is trading at 0.8875, with the USD trading 0.06% lower from yesterday’s close. Meanwhile, Bloomberg’s monthly survey of economists revealed that Switzerland’s decision to limit immigration may hurt its economic growth.

The pair is expected to find support at 0.8851, and a fall through could take it to the next support level of 0.8826. The pair is expected to find its first resistance at 0.8915, and a rise through could take it to the next resistance level of 0.8954.

Market participants keenly await the ZEW survey – expectations data for the Swiss economy, which is widely expected to show an improvement in February.

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

This entry was posted in USD/CHF. Bookmark the permalink.

Comments are closed.