USDCHF Movement
For the 24 hours to 23:00 GMT, the USD slightly rose against the CHF and closed at 1.0060.
On the macro front, Switzerland’s consumer price index (CPI) surprisingly remained flat on a monthly basis in January, while market participants anticipated for a fall of 0.1%. In the prior month, the CPI had recorded a drop of 0.1%.
In the Asian session, at GMT0400, the pair is trading at 1.0057, with the USD trading a tad lower against the CHF from yesterday’s close.
The pair is expected to find support at 1.0028, and a fall through could take it to the next support level of 0.9999. The pair is expected to find its first resistance at 1.0085, and a rise through could take it to the next resistance level of 1.0113.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
