USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.22% against the CHF and closed at 0.9973.
On macro front, data indicated that Switzerland’s M3 money supply advanced 3.1% on a yearly basis in December, higher than market consensus for a rise of 2.9%. In the previous month, M3 money supply rose 2.8%. Moreover, the nation’s total sight deposits climbed to a level of CHF576.3 billion in the week ended 18 January, from CHF575.2 billion in the previous week.
In the Asian session, at GMT0400, the pair is trading at 0.9980, with the USD trading 0.07% higher against the CHF from yesterday’s close.
The pair is expected to find support at 0.9956, and a fall through could take it to the next support level of 0.9932. The pair is expected to find its first resistance at 0.9996, and a rise through could take it to the next resistance level of 1.0012.
With no macroeconomic releases in Switzerland today, investors would look forward to global macroeconomic releases for further directions.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
