USDCHF Movement
On Friday, the USD declined 0.49% against the CHF and closed at 0.9180, after the US annualised GDP expanded less than expected in 4Q 2014.
In economic news, Switzerland’s KOF leading indicator unexpectedly climbed to a level of 97.0 in January, compared to market expectations of a drop to 94.7 and following preceding month’s reading of 98.8.
In the Asian session, at GMT0400, the pair is trading at 0.9258, with the USD trading 0.85% higher from Friday’s close.
The pair is expected to find support at 0.9189, and a fall through could take it to the next support level of 0.9119. The pair is expected to find its first resistance at 0.9309, and a rise through could take it to the next resistance level of 0.936.
Meanwhile, investors look ahead to the release of Switzerland’s SVME PMI data, scheduled in few hours, for further cues.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
