USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.74% against the CHF and closed at 1.0098.
Macroeconomic data revealed that Switzerland’s trade surplus widened to a level of CHF4.73 billion in January, amid a sharp drop in imports. The nation registered a revised trade surplus of CHF2.69 billion in the previous month. Moreover, the nation’s exports fell 4.0% in January, while imports declined 5.3% in the same month.
In the Asian session, at GMT0400, the pair is trading at 1.0086, with the USD trading 0.12% lower against the CHF from yesterday’s close.
The pair is expected to find support at 1.0052, and a fall through could take it to the next support level of 1.0019. The pair is expected to find its first resistance at 1.0112, and a rise through could take it to the next resistance level of 1.0139.
Ahead in the day, investors will keep a close watch on Switzerland’s ZEW survey of expectations data for February.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
