USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.43% against the CHF and closed at 0.8908 following positive US economic data.
In Switzerland, widespread weakness across business sectors prompted the UBS consumption indicator to fall to a reading of 1.44 in January, from a level of 1.80 registered in the previous month.
In the Asian session, at GMT0400, the pair is trading at 0.8902, with the USD trading 0.07% lower from yesterday’s close.
The pair is expected to find support at 0.8868, and a fall through could take it to the next support level of 0.8835. The pair is expected to find its first resistance at 0.8933, and a rise through could take it to the next resistance level of 0.8965.
Market participants are expected to keep a tab on the Swiss fourth-quarter GDP and employment data, due for release later today.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
