USD/CHF: Switzerland’s manufacturing PMI surprisingly rose in October


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD rose 0.55% against the CHF and closed at 1.0028.

On the data front, Switzerland’s SVME PMI unexpectedly rose to 62.0 for October, compared to a level of 61.7 in the previous month. Market had expected the index to fall to 61.4.

In the Asian session, at GMT0400, the pair is trading at 0.9992, with the USD trading 0.36% lower from yesterday’s close.

The pair is expected to find support at 0.9967, and a fall through could take it to the next support level of 0.9943. The pair is expected to find its first resistance at 1.0027, and a rise through could take it to the next resistance level of 1.0063.

Moving ahead, traders will await the release of Switzerland’s real retail sales data for September, scheduled for today.

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

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