USDCHF Movement
On Friday, the USD rose 0.22% against the CHF and closed at 0.9543, as the US annualized GDP advanced more than expected in 4Q 2014.
In economic news, Switzerland’s KOF leading indicator dropped less than expected to a reading of 90.1 in February after registering a rise to a level of 96.1 in January. Markets were expecting it to ease to a reading of 90.0.
In the Asian session, at GMT0400, the pair is trading at 0.9551, with the USD trading 0.08% higher from Friday’s close.
The pair is expected to find support at 0.9480, and a fall through could take it to the next support level of 0.9409. The pair is expected to find its first resistance at 0.9591, and a rise through could take it to the next resistance level of 0.9632.
Meanwhile, investors await the release of Switzerland’s SVME PMI data, scheduled in a few hours.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
