USDCHF Movement
For the 24 hours to 23:00 GMT, the USD slightly declined against the CHF and closed at 0.9920.
In economic news, Switzerland’s total sight deposits slightly rose to a level of CHF576.7 billion in the week ended 25 January, from CHF576.3 billion in the previous week.
In the Asian session, at GMT0400, the pair is trading at 0.9916, with the USD trading marginally lower against the CHF from yesterday’s close.
The pair is expected to find support at 0.9903, and a fall through could take it to the next support level of 0.9891. The pair is expected to find its first resistance at 0.9931, and a rise through could take it to the next resistance level of 0.9947.
Trading trend in the Swiss Franc today is expected to be determined by Switzerland’s trade balance data for December, scheduled to release in a while.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
