USD/CHF: Swiss Franc Trading Lower ahead of Swiss PMI Data

USD/CHF: Swiss Franc Trading Lower ahead of Swiss PMI Data

For the 24 hours to 23:00 GMT, the USD rose 0.37% against the CHF and closed at 0.9180, after the final manufacturing PMI reading in the US, as reported by Markit, rose to a reading of 54.0 in December, marking its highest level in seven months.

Additionally, the Institute for Supply Management (ISM) reported that manufacturing PMI in the US climbed to a reading of 50.7 in December, from a reading of 49.5 in November.

In the Asian session, at GMT0400, the pair is trading at 0.9203, with the USD trading 0.25% higher from yesterday’s close.

The pair is expected to find support at 0.9123, and a fall through could take it to the next support level of 0.9043. The pair is expected to find its first resistance at 0.9248, and a rise through could take it to the next resistance level of 0.9292.

In economic news, KOF leading indicator and SVME manufacturing PMI data due later today in Switzerland is likely to generate market interest.