USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.18% against the CHF and closed at 0.9906, after a surge in US durable goods orders data in January.
On the economic front, data showed that Switzerland’s Q4 industrial production eased 4.5% YoY in 4Q 2015, from a revised drop of 2.7% in the previous quarter.
Another set of data showed that the EU harmonised consumer price index slid 0.70% in Switzerland, on a monthly basis in January, compared to a fall of 0.20% in the prior month. Market expectation was for the index to drop 0.50%.
In the Asian session, at GMT0400, the pair is trading at 0.9872, with the USD trading 0.34% lower from yesterday’s close.
The pair is expected to find support at 0.9844, and a fall through could take it to the next support level of 0.9816. The pair is expected to find its first resistance at 0.9926, and a rise through could take it to the next resistance level of 0.998.
Looking ahead, market participants will look forward to Switzerland’s KOF leading indicator data for February, slated to be released next week.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
