USDCHF Movement
For the 24 hours to 23:00 GMT, the USD marginally rose against the CHF and closed at 0.9374.
In economic news, Switzerland’s total sight deposits inched up to a level of CHF575.0 billion in the week ended 26 January, compared to a level of CHF574.7 billion in the previous week.
In the Asian session, at GMT0400, the pair is trading at 0.9375, with the USD trading slightly higher against the CHF from yesterday’s close.
The pair is expected to find support at 0.9345, and a fall through could take it to the next support level of 0.9314. The pair is expected to find its first resistance at 0.9400, and a rise through could take it to the next resistance level of 0.9424.
Ahead in the day, traders would keep a close watch on Switzerland’s trade balance figures for December and the KOF leading indicator for January.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
