USD/CHF: Swiss Franc trading a tad lower in the morning session


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD rose 0.33% against the CHF and closed at 1.0018.

In economic news, Switzerland’s total sight deposits rose to a level of CHF578.0 billion in the week ended 26 October, from CHF577.9 billion in the previous week.

In the Asian session, at GMT0400, the pair is trading at 1.0021, with the USD trading slightly higher against the CHF from yesterday’s close.

The pair is expected to find support at 0.9989, and a fall through could take it to the next support level of 0.9957. The pair is expected to find its first resistance at 1.0039, and a rise through could take it to the next resistance level of 1.0057.

Going ahead, traders would keep an eye on Switzerland’s KOF leading indicator for October, due to be released in a while.

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

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