USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.17% against the CHF and closed at 0.9954 on Friday.
On data front, Switzerland’s producer and import price index climbed 0.6% on an annual basis in December, undershooting market expectations for an advance of 1.0%. In the prior month, the index had recorded a rise of 1.4%.
In the Asian session, at GMT0400, the pair is trading at 0.9950, with the USD trading slightly lower against the CHF from Friday’s close.
The pair is expected to find support at 0.9935, and a fall through could take it to the next support level of 0.9920. The pair is expected to find its first resistance at 0.9962, and a rise through could take it to the next resistance level of 0.9974.
Moving ahead, traders would keep an eye on Switzerland’s M3 money supply for December along with total sight deposits, slated to release in a few hours.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
