USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.09% against the CHF and closed at 0.9721 on Friday.
Data indicated that Switzerland’s SVME manufacturing PMI expanded to a level of 50.2 in December, more than market expectations for an advance to a level of 49.1. The PMI had recorded a level of 48.8 in the previous month.
In the Asian session, at GMT0400, the pair is trading at 0.9712, with the USD trading 0.09% lower against the CHF from Friday’s close.
The pair is expected to find support at 0.9689, and a fall through could take it to the next support level of 0.9665. The pair is expected to find its first resistance at 0.9740, and a rise through could take it to the next resistance level of 0.9767.
With no macroeconomic releases in Switzerland today, investors would look forward to global macroeconomic releases for further direction.
The currency pair is trading below its 20 Hr moving average and showing convergence with its 50 Hr moving average.
