USD/CHF: Switzerland’s consumer prices surprisingly dropped in November


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD rose 0.22% against the CHF and closed at 0.9895.

The Swiss Franc declined against the USD, after data indicated that Switzerland’s consumer price index (CPI) unexpectedly fell 0.1% MoM in November, confounding market expectations for a flat reading. The CPI had recorded a gain of 0.1% in the prior month.

In the Asian session, at GMT0400, the pair is trading at 0.9895, with the USD trading flat against the CHF from yesterday’s close.

The pair is expected to find support at 0.9863, and a fall through could take it to the next support level of 0.9832. The pair is expected to find its first resistance at 0.9918, and a rise through could take it to the next resistance level of 0.9942.

Ahead in the day, Switzerland’s unemployment rate data for November, will keep investors on their toes.

The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.

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