USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.33% against the CHF and closed at 0.9995.
Macroeconomic indicators revealed that Switzerland’s SECO consumer sentiment rose to -2.0 in the fourth quarter of 2017 from a level of -3.0 in the previous quarter. Markets had expected the consumer confidence to improve to 0.0. Separately, the nation’s real retail sales unexpectedly dropped by 0.4% on an annual basis in September, against market expectations for an advance of 0.3%. In the prior month, real retail sales had recorded a revised drop of 1.0%.
In the Asian session, at GMT0400, the pair is trading at 0.9988, with the USD trading 0.07% lower from yesterday’s close.
The pair is expected to find support at 0.9956, and a fall through could take it to the next support level of 0.9924. The pair is expected to find its first resistance at 1.0013, and a rise through could take it to the next resistance level of 1.0038.
Next week, investors will look forward to Switzerland’s consumer prices and unemployment rate.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
