USDCHF Movement
For the 24 hours to 23:00 GMT on Friday, the USD rose 0.74% against the CHF and closed at 0.9435, as Swiss manufacturing PMI dropped more-than-expected in February.
In Switzerland, the seasonally adjusted manufacturing PMI fell to a reading of 50.8 in February, from a reading of 52.5 in January. Market had expected a decline to 52.1.
In the Asian session, at GMT0400, the pair is trading at 0.9428, with the USD trading marginally lower from Friday’s close.
The pair is expected to find support at 0.9365, and a fall through could take it to the next support level of 0.9301. The pair is expected to find its first resistance at 0.9478, and a rise through could take it to the next resistance level of 0.9527.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
