USD/CHF: Switzerland’s inflation expanded less-than-estimated in November


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD declined 0.06% against the CHF and closed at 0.9974.

Data indicated that Switzerland’s consumer price index (CPI) climbed 0.9% on an annual basis in November, undershooting market expectations for a rise of 1.0%. The CPI had recorded a gain of 1.1% in the previous month.

In the Asian session, at GMT0400, the pair is trading at 0.9990, with the USD trading 0.16% higher against the CHF from yesterday’s close.

The pair is expected to find support at 0.9949, and a fall through could take it to the next support level of 0.9908. 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 1.0036.

With no macroeconomic releases in Switzerland today, investors would look forward to global macroeconomic releases for further directions.

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

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