USD/CHF: Swiss Franc advanced in New York session on strong CPI, trading lower in Asian session

USDCHF Movement

For the 24 hours to 23:00 GMT, USD declined 0.60% against the CHF and closed at 0.9295.

In Switzerland, CPI index rose to 0.4% (M-o-M) in February, greater than market expectations, from a decline of 0.4% in January.

In the Asian session, at 4:00GMT, the pair is trading at 0.9304, 0.10% higher from the New York session close.

The pair has its first short term resistance at 0.9359, followed by the next resistance at 0.9413. The first area of support is at 0.9262 levels, with the subsequent support at 0.9219.

With no major release from Switzerland, the pair is expected to trade on trends in the greenback.

The currency pair is showing convergence with its 20 Hr moving average and is trading just below its 50 Hr moving average.