USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.31% against the CHF and closed at 0.9975.
The Swiss Franc weakened after Switzerland’s consumer price index declined more-than-expected by 0.4% MoM in December, following a drop of 0.1% in the previous month and compared to investor expectations for a fall of 0.3%. On the other hand, the nation’s seasonally adjusted unemployment rate remained steady at 3.4% in December, in line with market expectations.
In the Asian session, at GMT0400, the pair is trading at 0.9947, with the USD trading 0.28% lower from Friday’s close.
The pair is expected to find support at 0.9867, and a fall through could take it to the next support level of 0.9788. The pair is expected to find its first resistance at 1.0039, and a rise through could take it to the next resistance level of 1.0132.
Moving ahead, investors will look forward to Switzerland’s real retail sales data for November, scheduled to release in a few hours.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
