USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.46% against the CHF and closed at 0.9214. The Swiss Franc gained ground, after Switzerland’s SECO consumer confidence data surprisingly improved to a reading of -6.0 in January, confounding market expectations of a fall to a level of -13.0. It had recorded a level of -11.0 in the prior month.
Yesterday, the Swiss Government warned that stronger Franc would be detrimental for the nation’s economic growth, as it is an export-reliant economy.
In the Asian session, at GMT0400, the pair is trading at 0.9232, with the USD trading 0.2% higher from yesterday’s close.
The pair is expected to find support at 0.9187, and a fall through could take it to the next support level of 0.9142. The pair is expected to find its first resistance at 0.9295, and a rise through could take it to the next resistance level of 0.9358.
Going forward, investors await Switzerland’s real retail sales data, scheduled in few hours.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
