Swiss Franc Trading A Tad Lower In The Asian Session

Fundamental analysis of Forex market

For the 24 hours to 23:00 GMT, the USD slightly rose against the CHF and closed at 0.9942.

In the Asian session, at GMT0400, the pair is trading at 0.9945, with the USD trading marginally higher against the CHF from yesterday’s close.

The pair is expected to find support at 0.9918, and a fall through could take it to the next support level of 0.9890. The pair is expected to find its first resistance at 0.9963, and a rise through could take it to the next resistance level of 0.9980.

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Looking forward, investors would closely monitor Switzerland’s SECO consumer confidence index and manufacturing PMI, both for January along real retail sales for December, slated to release in a while.

The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.

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