USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.08% against the CHF and closed at 0.9974.
In economic news, Switzerland’s manufacturing PMI unexpectedly rose to a level of 51.6 in February, following a reading of 50.0 in the preceding month and compared to market expectations of a fall to a level of 49.6. Additionally, the nation’s real retail sales rose by 0.2% in January, following to a revised drop of 1.7% in the previous month.
In the Asian session, at GMT0400, the pair is trading at 0.9986, with the USD trading 0.12% higher from yesterday’s close.
The pair is expected to find support at 0.9957, and a fall through could take it to the next support level of 0.9928. The pair is expected to find its first resistance at 1.0013, and a rise through could take it to the next resistance level of 1.0040.
Moving ahead, Switzerland’s Q4 GDP data, due to release in a few hours, will be on investor’s radar, to get better insights in the Swiss economy.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
