USD/CHF: Swiss Franc trading a tad lower this morning


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD marginally declined against the CHF and closed at 0.9965.

On the economic front, Switzerland’s total sight deposits fell to a level of CHF577.5 billion in the week ended 10 November, compared to a level of CHF577.8 billion reported in the previous week.

In the Asian session, at GMT0400, the pair is trading at 0.9966, with the USD trading slightly higher against the CHF from yesterday’s close.

The pair is expected to find support at 0.9940, and a fall through could take it to the next support level of 0.9913. The pair is expected to find its first resistance at 0.9990, and a rise through could take it to the next resistance level of 1.0013.

Looking ahead, market participants would eye Switzerland’s producer and import prices data 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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