USDCHF Movement
On Friday, the USD declined 0.27% against the CHF and closed at 0.8727.
On the economic front, producer and import prices in Switzerland fell 0.4% (MoM) in February, contradicting market expectations for the prices to remain unchanged at previous month’s flat reading.
In the Asian session, at GMT0400, the pair is trading at 0.8734, with the USD trading 0.08% higher from Friday’s close.
The pair is expected to find support at 0.8704, and a fall through could take it to the next support level of 0.8674. The pair is expected to find its first resistance at 0.8764, and a rise through could take it to the next resistance level of 0.8794.
Amid lack of economic releases in Switzerland, later today, market participants would keep an eye on global economic news for further guidance in the pair.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
