USDCHF Movement
For the 24 hours to 23:00 GMT on Friday, the USD declined marginally against the CHF and closed at 0.9178. The Swiss Franc rose after retail sales in Switzerland increased in December.
Annual retail sales in Switzerland rose 5.1% in December, faster than the revised 3.0% rise recorded in the previous month. Separately, the seasonally adjusted unemployment rate came in at 3.1% in January, in line with market expectations and following a similar reading recorded in the previous month.
In the Asian session, at GMT0400, the pair is trading at 0.9185, with the USD trading marginally higher from Friday’s close.
The pair is expected to find support at 0.9162, and a fall through could take it to the next support level of 0.914. The pair is expected to find its first resistance at 0.9199, and a rise through could take it to the next resistance level of 0.9214.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
