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


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD rose 0.29% against the CHF and closed at 1.0082.

In the Asian session, at GMT0400, the pair is trading at 1.0064, with the USD trading 0.18% lower against the CHF from yesterday’s close.

The pair is expected to find support at 1.0034, and a fall through could take it to the next support level of 1.0003. The pair is expected to find its first resistance at 1.0095, and a rise through could take it to the next resistance level of 1.0125.

Going ahead, investors would keep an eye on Switzerland’s SECO consumer confidence index, consumer price index and manufacturing PMI, all for October, slated to release in a few hours.

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

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