USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.39% against the CHF and closed at 0.9930.
In economic news, Switzerland’s SVME – purchasing managers’ index (PMI) dropped more than expected to a level of 54.6 in January, from a revised reading of 56.2 in the prior month.
In the Asian session, at GMT0400, the pair is trading at 0.9904, with the USD trading 0.26% lower against the CHF from yesterday’s close.
The pair is expected to find support at 0.9871, and a fall through could take it to the next support level of 0.9837. The pair is expected to find its first resistance at 0.9947, and a rise through could take it to the next resistance level of 0.9989.
Moving ahead, market participants await the release of Switzerland’s real retail sales data for December, due in a few hours.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
