USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.13% against the CHF and closed at 0.9956.
In economic news, Switzerland’s foreign currency reserves dropped to a level of CHF571.1 billion in February, after registering a revised reading of CHF575.0 billion in the previous month.
In the Asian session, at GMT0400, the pair is trading at 0.9941, with the USD trading 0.15% lower from yesterday’s close.
The pair is expected to find support at 0.9913, and a fall through could take it to the next support level of 0.9885. The pair is expected to find its first resistance at 0.9991, and a rise through could take it to the next resistance level of 1.0041.
Looking ahead, market participants will look forward to Switzerland’s unemployment rate and consumer price inflation data, both for the month of February, scheduled to be released in a few hours, to gauge the strength in the nation’s economy.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
