USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.67% against the CHF and closed at 0.9326.
In economic news, Switzerland’s industrial production grew 8.7% on an annual basis in the October-December 2017 period. In the previous quarter, industrial production had recorded a revised gain of 9.2%.
In the Asian session, at GMT0400, the pair is trading at 0.9345, with the USD trading 0.2% higher against the CHF from yesterday’s close.
The pair is expected to find support at 0.9310, and a fall through could take it to the next support level of 0.9276. The pair is expected to find its first resistance at 0.9394, and a rise through could take it to the next resistance level of 0.9444.
Looking forward, market participants would eye Switzerland’s 4Q GDP, ZEW economic sentiment index, real retail sales and manufacturing PMI, all slated to release next week.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
