USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.54% against the CHF and closed at 0.9658.
Data revealed that Switzerland’s SVME Purchasing Managers’ Index (PMI) eased to 47.80 in January, compared to a revised reading of 48.80 in the prior month. Meanwhile, total sight deposits rose to a level of CHF588.70 billion in the week ended 31 January 2020, compared to CHF587.20 billion in the previous week.
In the Asian session, at GMT0400, the pair is trading at 0.9669, with the USD trading 0.11% higher against the CHF from yesterday’s close.
The pair is expected to find support at 0.9642, and a fall through could take it to the next support level of 0.9614. The pair is expected to find its first resistance at 0.9685, and a rise through could take it to the next resistance level of 0.9700.
The currency pair is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.
