USD/CHF: Switzerland’s KOF leading indicator sharply advanced in September


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD declined 0.21% against the CHF and closed at 0.9685 on Friday.

In economic news, Switzerland’s KOF leading indicator rose to a level of 105.8 in September, exceeding market expectations for a rise to a level of 105.5. The index had registered a revised level of 104.2 in the prior month.

In the Asian session, at GMT0300, the pair is trading at 0.9700, with the USD trading 0.15% higher against the CHF from Friday’s close.

The pair is expected to find support at 0.9674, and a fall through could take it to the next support level of 0.9647. The pair is expected to find its first resistance at 0.9724, and a rise through could take it to the next resistance level of 0.9747.

Going forward, Switzerland’s retail sales for August and SVME–PMI for September, both due to release in a few hours, will pique a lot of market attention.

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

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