USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.3% against the CHF and closed at 0.9888.
On the economic front, data showed that Switzerland’s UBS consumption indicator advanced to a level of 1.66 in January, compared to a downwardly revised reading of 1.61 in the previous month.
In the Asian session, at GMT0400, the pair is trading at 0.9895, with the USD trading 0.07% higher from yesterday’s close.
The pair is expected to find support at 0.9846, and a fall through could take it to the next support level of 0.9798. The pair is expected to find its first resistance at 0.9948, and a rise through could take it to the next resistance level of 1.0002.
Going ahead, investors await the release of Switzerland’s Q4 industrial production data, scheduled to be released in a few hours, for further cues.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
