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


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD rose 0.36% against the CHF and closed at 0.9998 on Friday.

Data indicated that Switzerland’s KOF economic barometer eased to a level of 99.1 in November, compared to market expectations for a fall to a level of 99.5. The KOF economic barometer had recorded a revised reading of 100.2 in the prior month.

In the Asian session, at GMT0400, the pair is trading at 0.9978, with the USD trading 0.20% lower against the CHF from Friday’s close.

The pair is expected to find support at 0.9951, and a fall through could take it to the next support level of 0.9925. The pair is expected to find its first resistance at 1.0004, and a rise through could take it to the next resistance level of 1.0031.

Going ahead, investors would closely monitor Switzerland’s retail sales for October and manufacturing PMI for November, scheduled to release in a while.

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

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