USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.65% against the CHF and closed at 0.9425.
On the Swiss economic front, State Secretariat for Economic Affairs (SECO) reported that the seasonally adjusted unemployment rate in Switzerland stood unchanged at 3.1% in February, in line with market expectations. Separately, foreign currency reserves dropped to CHF427.7 billion in February, from CHF429.5 billion in January.
In the Asian session, at GMT0400, the pair is trading at 0.9448, with the USD trading 0.24% higher from yesterday’s close.
The pair is expected to find support at 0.9408, and a fall through could take it to the next support level of 0.9367. The pair is expected to find its first resistance at 0.9490, and a rise through could take it to the next resistance level of 0.9531.
Later today, the Swiss consumer price index is forecast to register an annual drop, while on a monthly basis the index is expected to remain unchanged.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
