USD/CHF: Switzerland’s KOF economic barometer indicator rose more than anticipated in September


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD rose 0.45% against the CHF and closed at 0.9814 on Friday.

On the data front, Switzerland’s KOF economic barometer jumped to a level of 102.2 in September, compared to a revised reading of 98.9 in the prior month. Market participants had anticipated for an advance to a level of 100.0.

In the Asian session, at GMT0300, the pair is trading at 0.9810, with the USD trading a tad lower against the CHF from Friday’s close.

The pair is expected to find support at 0.9759, and a fall through could take it to the next support level of 0.9707. The pair is expected to find its first resistance at 0.9841, and a rise through could take it to the next resistance level of 0.9871.

Looking ahead, investors would closely monitor Switzerland’s real retail sales data for August and the manufacturing PMI for September, scheduled to release in a while.

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

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