USD/CHF: Switzerland’s KOF economic barometer dropped more-than-forecasted in October


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD rose 0.35% against the CHF and closed at 1.0053.

On the data front, Switzerland’s KOF economic barometer declined to a level of 100.1 in October, more than market expectations for fall to a level of 101.0. In the previous month, the index had recorded a revised reading of 102.3.

In the Asian session, at GMT0400, the pair is trading at 1.0056, with the USD trading slightly higher against the CHF from yesterday’s close.

The pair is expected to find support at 1.0024, and a fall through could take it to the next support level of 0.9992. The pair is expected to find its first resistance at 1.0073, and a rise through could take it to the next resistance level of 1.0090.

Trading trend in the Swiss Franc today will be determined by the release of Switzerland’s ZEW expectations survey for October, slated to release in a few hours.

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

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