USDCHF Movement
For the 24 hours to 23:00 GMT, the USD slightly rose against the CHF and closed at 1.0018.
On the data front, Switzerland’s real retail sales rebounded 0.6% on an annual basis in February, rising for the first time in three-months. In the previous month, real retail sales had recorded a revised drop of 1.2%. Further, the nation’s SVME–PMI advanced to a level of 58.6 in March, higher than market expectations of an increase to a level of 58.0. The PMI had registered a level of 57.8 in the prior month.
In the Asian session, at GMT0300, the pair is trading at 1.0020, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 1.0004, and a fall through could take it to the next support level of 0.9989. The pair is expected to find its first resistance at 1.0036, and a rise through could take it to the next resistance level of 1.0053.
With no economic releases in Switzerland today, investor sentiment will be governed by global macroeconomic factors.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
