USDCHF Movement
On Friday, the USD declined 0.96% against the CHF and closed at 0.8800.
On the economic front, the KOF leading indicator in Switzerland rose surprisingly to a level of 2.03 in February, from previous month’s reading of 2.01.
In the Asian session, at GMT0400, the pair is trading at 0.8799, with the USD trading marginally lower from Friday’s close.
The pair is expected to find support at 0.8756, and a fall through could take it to the next support level of 0.8713. The pair is expected to find its first resistance at 0.8867, and a rise through could take it to the next resistance level of 0.8935.
Market participants keenly await the SVME purchasing managers’ index data, for further cues in the Swiss Franc.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
