USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined marginally against the CHF and closed at 0.9926.
In economic news, Switzerland’s total sight deposits inched up to a level of CHF468.4 billion, from CHF467.7 billion in the week ended 18 December.
In the Asian session, at GMT0400, the pair is trading at 0.9929, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 0.9894, and a fall through could take it to the next support level of 0.9859. The pair is expected to find its first resistance at 0.9967, and a rise through could take it to the next resistance level of 1.0005.
Moving ahead, market participants will concentrate on Switzerland’s trade balance data for November, scheduled to be released in a few hours.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
