USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.13% against the CHF and closed at 0.9854 on Friday.
On the macro front, Switzerland’s SVME manufacturing PMI increased to a level of 49.4 in October, higher than market expectations for an advance to a level of 45.0. The PMI had registered a reading of 44.6 in the previous month. Moreover, real retail sales advanced 0.9% on an annual basis in September. Real retail sales had registered a revised drop of 1.0% in the prior month. On the contrary, the nation’s consumer price index (CPI) declined 0.3% on a yearly basis in October, following a rise of 0.1% in the prior month.
In the Asian session, at GMT0400, the pair is trading at 0.9864, with the USD trading 0.10% higher against the CHF from Friday’s close.
The pair is expected to find support at 0.9845, and a fall through could take it to the next support level of 0.9826. The pair is expected to find its first resistance at 0.9889, and a rise through could take it to the next resistance level of 0.9914.
Trading trend in the Swiss Franc today, is expected to be determined by Switzerland’s SECO consumer climate for the 4Q 2019, set to release in a while.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
