USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.48% against the CHF and closed at 0.9586. The Swiss Franc traded on a weaker footing, after Switzerland’s SVME PMI dropped to a level of 47.3 in February, after registering a reading of 48.2 in the prior month.
In the Asian session, at GMT0400, the pair is trading at 0.9563, with the USD trading 0.24% lower from yesterday’s close.
The pair is expected to find support at 0.9535, and a fall through could take it to the next support level of 0.9507. The pair is expected to find its first resistance at 0.9595, and a rise through could take it to the next resistance level of 0.9628.
Going forward, Switzerland’s 4Q GDP data, scheduled in a few hours, would keep market participants on their toes.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
