USDCHF Movement
For the 24 hours to 23:00 GMT, USD declined 1.87% against the CHF and closed at 0.8996.
In Switzerland, ZEW economic sentiment index rose to 13.5 in March compared to the 17.2 in the previous month. Meanwhile, the current situation index rose to 67.6 in March, following a reading of 60.0 recorded in the previous month.
In the US, producer price index for finished goods rose 1.6% (M-o-M) in February following 0.8% in January. Additionally, the core producer prices rose 0.2% (M-o-M) in February, following a 0.5% rise in the prior month.
In the Asian session, at 4:00GMT, the pair is trading at 0.9006, 0.11% higher from the New York session close.
The pair has its first short term resistance at 0.9165, followed by the next resistance at 0.9324. The first area of support is at 0.8883 levels, with the subsequent support at 0.8760.
With a series of Switzerland economic releases today, including industrial production and SNB interest rate decision, trading in the pair is expected to be influenced by the resulting cues from these releases.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
