USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.17% against the CHF and closed at 0.9996 on Friday.
In economic news, Switzerland’s SVME manufacturing PMI surprisingly climbed to a level of 55.4 in February, defying market consensus for a fall to a level of 53.5. In the previous month, the PMI had recorded a reading of 54.3. Meanwhile, the nation’s real retail sales unexpectedly slid 0.4% on an annual basis in January, compared to a revised drop of 0.2% in the previous month. Market participants had expected the retail sales to record a rise of 0.4%.
In the Asian session, at GMT0400, the pair is trading at 0.9994, with the USD trading a tad lower against the CHF from Friday’s close.
The pair is expected to find support at 0.9968, and a fall through could take it to the next support level of 0.9943. The pair is expected to find its first resistance at 1.0014, and a rise through could take it to the next resistance level of 1.0035.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
