USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.29% against the CHF and closed at 0.8882.
In economic news, Switzerland’s GDP rose 1.7% (YoY) in the fourth quarter, less than analysts’ call for a rise of 2.0% and compared to a 2.1% increase registered in the preceding quarter. Meanwhile, on a quarterly basis, the number of employed workers in the Swiss economy stood at 4.189 million in the fourth quarter, compared to a level of 4.196 million registered in the preceding quarter.
In the Asian session, at GMT0400, the pair is trading at 0.8883, with the USD trading tad higher from yesterday’s close.
The pair is expected to find support at 0.8863, and a fall through could take it to the next support level of 0.8842. The pair is expected to find its first resistance at 0.8912, and a rise through could take it to the next resistance level of 0.8940.
Traders are expected to keep a tab on the Swiss KOF leading indicator, which is widely expected to register a rise in February.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
