USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.46% against the CHF and closed at 0.9444.
Macroeconomic data indicated that the ZEW economic expectations index in Switzerland fell to a level of 25.8 in February, compared to a reading of 34.5 in the previous month.
On the other hand, the nation’s KOF economic barometer registered an unexpected rise to a level of 108.0 in February, confounding market expectations for a fall to a level of 106.0. The index had recorded a revised reading of 107.6 in the previous month.
In the Asian session, at GMT0400, the pair is trading at 0.9449, with the USD trading 0.1% higher against the CHF from yesterday’s close.
The pair is expected to find support at 0.9406, and a fall through could take it to the next support level of 0.9363. The pair is expected to find its first resistance at 0.9475, and a rise through could take it to the next resistance level of 0.9501.
Ahead in the day, traders would look forward to Switzerland’s 4Q GDP, real retail sales and manufacturing PMI data.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
