USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.25% against the CHF and closed at 0.9753.
In economic news, Switzerland’s ZEW economic expectations index rebounded to a level of 2.50 in March from -5.90 recorded in the preceding month.
Separately, the KOF institute trimmed Switzerland’s growth outlook to 1.0% in 2016 from 1.1% projected earlier due to global economic weakness. However, for 2017, the growth outlook was kept unchanged at 2.0%.
In the Asian session, at GMT0400, the pair is trading at 0.9754, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 0.9730, and a fall through could take it to the next support level of 0.9707. The pair is expected to find its first resistance at 0.9772, and a rise through could take it to the next resistance level of 0.9791.
Going ahead, market participants would keep a close eye on Switzerland’s UBS consumption and the KOF leading indices data, scheduled next week to get better insights in the Swiss economy.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
