USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.23% against the CHF and closed at 0.9616.
In Switzerland, real retail sales unexpectedly rose 0.3% on a yearly basis in February, confounding market expectations for a drop of 0.7% and compared to a revised flat reading in the prior month.
In the Asian session, at GMT0300, the pair is trading at 0.9617, with the USD trading marginally higher against the CHF from yesterday’s close.
The pair is expected to find support at 0.9578, and a fall through could take it to the next support level of 0.9539. The pair is expected to find its first resistance at 0.9671, and a rise through could take it to the next resistance level of 0.9725.
Moving forward, investors would keep an eye on Switzerland’s SVME Purchasing Managers’ Index for March, slated to release in a few hours.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
