USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.08% against the CHF and closed at 0.9997.
Macroeconomic data revealed that Switzerland’s trade surplus narrowed to a level of CHF 2.7 billion in December, following a revised surplus of CHF 3.5 billion in the prior month.
In the Asian session, at GMT0400, the pair is trading at 1.0008, with the USD trading 0.11% higher against the CHF from yesterday’s close.
The pair is expected to find support at 0.9973, and a fall through could take it to the next support level of 0.9937. The pair is expected to find its first resistance at 1.0035, and a rise through could take it to the next resistance level of 1.0061.
Looking ahead, investors would await Switzerland’s real retail sales, KOF leading indicator and SVME-purchasing managers’ index, all scheduled to release next week.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
