USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.82% against the CHF and closed at 1.0223.
In economic news, Switzerland’s KOF leading indicator index unexpectedly rose to a level of 100.3 in January, compared to market expectation of a fall to a level of 96.0 and following a reading of 96.8 in the previous month.
In the Asian session, at GMT0400, the pair is trading at 1.0218, with the USD trading marginally lower from Friday’s close.
The pair is expected to find support at 1.0148, and a fall through could take it to the next support level of 1.0078. The pair is expected to find its first resistance at 1.0272, and a rise through could take it to the next resistance level of 1.0327.
Moving ahead, market participants will look forward to Switzerland’s SVME PMI data, slated to release in a few hours.
The currency pair is showing convergence with its 20 Hr and trading above its 50 Hr moving average.
