USD/CHF: Switzerland’s M3 money supply expanded in November


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD rose 0.84% against the CHF and closed at 0.9956 on Friday.

On the data front, Switzerland’s M3 money supply rose 2.8% on an annual basis in November, following a revised rise of 2.6% in the previous month.

In the Asian session, at GMT0400, the pair is trading at 0.9934, with the USD trading 0.22% lower against the CHF from Friday’s close.

The pair is expected to find support at 0.9878, and a fall through could take it to the next support level of 0.9823. The pair is expected to find its first resistance at 0.9973, and a rise through could take it to the next resistance level of 1.0013.

Trading trend in the Swiss Franc today is expected to be determined by Switzerland’s total sight deposits, 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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