USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.25% against the CHF and closed at 0.8831, as traders cheered an upbeat US consumer confidence data for March.
In the Asian session, at GMT0400, the pair is trading at 0.8836, with the USD trading 0.06% higher from yesterday’s close.
The pair is expected to find support at 0.8797, and a fall through could take it to the next support level of 0.8759. The pair is expected to find its first resistance at 0.8877, and a rise through could take it to the next resistance level of 0.8919.
The Swiss National Bank’s (SNB) is expected to publish a quarterly bulletin report on the Swiss economy, which would provide insights on the monetary policy and business cycle trends in the fourth quarter. Also later today, traders would eye the release of the UBS consumption indicator for further cues in the Swiss Franc.
The currency pair is showing convergence with its 20 Hr moving average and is trading just above its 50 Hr moving average.
