USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.44% against the CHF and closed at 1.0199.
On the economic front, Switzerland’s SVME PMI unexpectedly declined to a level of 50.0 in January, but remained in the expansionary territory, compared to market expectations of a rise to a level of 51.1 and following a revised reading of 50.4 in the preceding month.
In the Asian session, at GMT0400, the pair is trading at 1.0188, with the USD trading 0.11% lower from yesterday’s close.
The pair is expected to find support at 1.0152, and a fall through could take it to the next support level of 1.0116. The pair is expected to find its first resistance at 1.0228, and a rise through could take it to the next resistance level of 1.0268.
Going forward, investors would keep a close eye on Switzerland’s real retail sales data, set for release in a few hours.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
