USD/CHF: Swiss manufacturing activity expanded at its quickest pace in over 7 years in December


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD rose 0.53% against the CHF and closed at 0.9773.

In economic news, Switzerland’s SVME–PMI registered an unexpected rise to a level of 65.2 in December, accelerating at its fastest pace in more than seven years. The PMI had recorded a reading of 65.1 in the prior month, while market had expected for a drop a level of 64.5.

In the Asian session, at GMT0400, the pair is trading at 0.9776, with the USD trading a tad higher against the CHF from yesterday’s close.

The pair is expected to find support at 0.9728, and a fall through could take it to the next support level of 0.9680. The pair is expected to find its first resistance at 0.9811, and a rise through could take it to the next resistance level of 0.9846.

With a lack of macroeconomic releases in Switzerland today, investor sentiment would be governed by global macroeconomic news.

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

This entry was posted in USD/CHF. Bookmark the permalink.

Comments are closed.