USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.1% against the CHF and closed at 0.9936.
On the economic front, data showed that Switzerland’s trade surplus increased to a 3-month high level of CHF3.5 billion in January, from a revised surplus of CHF2.6 billion in the previous month. Meanwhile, exports dropped by 1.1% and imports rebounded by 2.5%, on a monthly basis in January.
In the Asian session, at GMT0400, the pair is trading at 0.9915, with the USD trading 0.22% lower from yesterday’s close.
The pair is expected to find support at 0.9889, and a fall through could take it to the next support level of 0.9863. The pair is expected to find its first resistance at 0.9955, and a rise through could take it to the next resistance level of 0.9995.
Amid no economic releases in Switzerland today, investors will look forward to the nation’s Q4 industrial production and the UBS consumption indicator data, scheduled to release next week.
The currency pair is trading below its 20 Hr moving average and showing convergence with 50 Hr moving average.
