USDCHF Movement
For the 24 hours to 23:00 GMT, the USD marginally declined against the CHF and closed at 0.8778.
Yesterday, the Swiss Federal Statistics Office reported that real retail sales in the nation rose 0.3% (YoY) in January, way below market expectations for a rise of 3.3% and compared to a revised 2.5% increase recorded in the preceding month.
In the Asian session, at GMT0400, the pair is trading at 0.8787, with the USD trading 0.10% higher from yesterday’s close.
The pair is expected to find support at 0.8767, and a fall through could take it to the next support level of 0.8748. The pair is expected to find its first resistance at 0.8800, and a rise through could take it to the next resistance level of 0.8814.
Later today, the Swiss Statistics would publish a report on Switzerland’s industrial production, which is widely expected to register an improvement in the fourth-quarter.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
