USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.21% against the CHF and closed at 0.9464.
In economic news, Switzerland’s international trade balance stood at a surplus of CHF2.10 billion in February, slightly narrower than the revised surplus of CHF2.12 billion recorded in the previous month. The value of exports dropped 2.6% (MoM) in February, while the value of imports declined 5.4% (MoM) in February. Also yesterday, the Swiss National Bank, in its quarterly bulletin stated that Swiss companies expect revenues to rise after economic activity revived early this year.
In the Asian session, at GMT0400, the pair is trading at 0.9467, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 0.9442, and a fall through could take it to the next support level of 0.9416. The pair is expected to find its first resistance at 0.9488, and a rise through could take it to the next resistance level of 0.9508.
The currency pair is showing convergence with its 20 Hr moving average and is trading just above its 50 Hr moving average.
