USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.59% against the CHF and closed at 0.9094, amid a broad strength in the greenback.
On the economic front, the Swiss National Bank (SNB) reported that the foreign currency reserve in Switzerland fell less-than-expected to CHF435.2 billion in December, from previous month’s level of CHF435.7 billion.
In the Asian session, at GMT0400, the pair is trading at 0.9085, with the USD trading 0.10% lower from yesterday’s close.
The pair is expected to find support at 0.9056, and a fall through could take it to the next support level of 0.9027. The pair is expected to find its first resistance at 0.9109, and a rise through could take it to the next resistance level of 0.9133.
With no major economic releases in Switzerland over the next 24 hours, traders are expected to keep a close watch on global economic news for further guidance in the pair.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
