USD/CHF: Swiss Franc extends its gains in the morning session


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD declined 0.67% against the CHF and closed at 0.9932.

In economic news, Switzerland’s total sight deposits rose to a level of CHF577.3 billion in the week ended 16 November, from CHF577.2 billion in the previous week.

In the Asian session, at GMT0400, the pair is trading at 0.9926, with the USD trading 0.06% lower against the CHF from yesterday’s close.

The pair is expected to find support at 0.9896, and a fall through could take it to the next support level of 0.9865. The pair is expected to find its first resistance at 0.9982, and a rise through could take it to the next resistance level of 1.0037.

Trading trend in the Swiss Franc today is expected to be determined by the release of Switzerland’s trade balance data for October, set to release in a while.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.

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