USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.28% against the CHF and closed at 0.9854.
On the economic front, Switzerland’s total sight deposits advanced to a level of CHF560.1 billion in the week ended 24 March, compared to CHF557.2 billion recorded in the previous week.
In the Asian session, at GMT0300, the pair is trading at 0.9856, with the USD trading slightly higher against the CHF from yesterday’s close.
The pair is expected to find support at 0.9818, and a fall through could take it to the next support level of 0.9779. The pair is expected to find its first resistance at 0.9889, and a rise through could take it to the next resistance level of 0.9921.
Moving ahead, traders will look forward to Switzerland’s ZEW survey of expectations index for March along with the UBS consumption indicator for February and the KOF spring economic forecast report, all scheduled for tomorrow.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
