USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 1.21% against the CHF and closed at 0.9111, as disappointing US GDP data prompted investors to go short on the greenback.
On the economic front, Switzerland’s consumption indicator rose to a reading of 1.34 in December, from 1.23 in November. The KOF economic barometer retreated to a reading of 1.05 in January, from revised reading of 1.29 in December.
In the Asian session, at GMT0400, the pair is trading at 0.9094, with the USD trading 0.19% lower from yesterday’s close.
The pair is expected to find support at 0.9046, and a fall through could take it to the next support level of 0.8998. The pair is expected to find its first resistance at 0.9185, and a rise through could take it to the next resistance level of 0.9276.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
