USDCHF Movement
For the 24 hours to 23:00 GMT, USD rose marginally against the CHF and closed at 0.9126.
Data released in Switzerland showed that trade surplus narrowed to CHF1.6 billion in January, compared to a surplus of CHF 2.0 billion in December. Additionally, the Swiss National Bank reported that M3 money supply rose 8.2% (YoY) in January, compared to a 7.4% expansion in December.
In the Asian session, at GMT0400, the pair is trading at 0.9128, with the USD trading 0.03% higher from yesterday’s close.
The pair is expected to find support at 0.9093, and a fall through could take it to the next support level of 0.9057. The pair is expected to find its first resistance at 0.9154, and a rise through could take it to the next resistance level of 0.9181.
With no key Switzerland economic releases in the day ahead, CHF is expected to ride on general market cues against the greenback.
The currency pair is converging with its 20 Hr and 50 Hr moving averages.
