USD/CHF: Swiss Franc extends its losses in the Asian session


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD slightly rose against the CHF and closed at 1.0044.

In economic news, Switzerland’s total sight deposits eased to a level of CHF577.5 billion in the week ended 02 November, from CHF578.0 billion in the previous week.

In the Asian session, at GMT0400, the pair is trading at 1.0050, with the USD trading 0.06% higher against the CHF from yesterday’s close.

The pair is expected to find support at 1.0031, and a fall through could take it to the next support level of 1.0012. The pair is expected to find its first resistance at 1.0069, and a rise through could take it to the next resistance level of 1.0088.

The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.

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