USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.24% against the CHF and closed at 0.9990.
In economic news, Switzerland’s seasonally adjusted trade surplus widened to CHF3.13 billion in February, following a revised surplus of CHF3.04 billion in the previous month. Market participants had envisaged to post a surplus of CHF2.88 billion.
In the Asian session, at GMT0400, the pair is trading at 0.9996, with the USD trading 0.06% higher against the CHF from yesterday’s close.
The pair is expected to find support at 0.9984, and a fall through could take it to the next support level of 0.9973. The pair is expected to find its first resistance at 1.0008, and a rise through could take it to the next resistance level of 1.0021.
Amid lack of macroeconomic release in Switzerland today, traders would keep an eye on the global macro events.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
