USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.61% against the CHF and closed at 0.9262.
Data indicated that Switzerland’s real retail sales climbed 0.6% on an annual basis in December, after registering a revised rise of 0.3% in the prior month. Moreover, the nation’s SECO consumer climate index advanced more-than-estimated to a level of 5.0 in 1Q 2018, compared to market expectations for an increase to a level of 2.0. In the previous quarter, the index had registered a level of -2.0.
On the contrary, the nation’s SVME–PMI registered a drop to a level of 65.3 in January, less than market anticipations for a fall to a level of 64.2. In the previous month, the PMI had registered a revised level of 65.6.
In the Asian session, at GMT0400, the pair is trading at 0.9265, with the USD trading marginally higher against the CHF from yesterday’s close.
The pair is expected to find support at 0.9234, and a fall through could take it to the next support level of 0.9203. The pair is expected to find its first resistance at 0.9319, and a rise through could take it to the next resistance level of 0.9373.
Moving ahead, investors would look forward to Switzerland’s unemployment rate data for January, the sole important release next week.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
