USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.80% against the CHF and closed at 0.8936 On the economic front, data showed that the Swiss producer and import prices fell 0.3% on an annual basis in January, following a 0.4% decline in the previous month.
In the Asian session, at GMT0400, the pair is trading at 0.8924, with the USD trading 0.13% lower from yesterday’s close.
The pair is expected to find support at 0.8899, and a fall through could take it to the next support level of 0.8874. The pair is expected to find its first resistance at 0.8968, and a rise through could take it to the next resistance level of 0.9012.
Amid lack of economic releases from Switzerland, market participants are expected to keep a tab on global economic news for further guidance in the pair.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
