USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.08% against the CHF and closed at 0.9907.
Data indicated that Switzerland’s SVME manufacturing PMI rose to a level of 47.2 in August, surpassing market expectations for an advance to a level of 45.7. In the prior month, the PMI had registered a level of 44.7. Moreover, the nation’s real retail sales climbed 1.4% on an annual basis in July, rising at its quickest pace in 9 months. In the prior month, retail sales had recorded a gain of 0.7%. Meanwhile, total sight deposits slightly fell to a level of CHF591.6 billion in the week ended 30 August 2019, compared to a reading of CHF591.7 billion in the previous week.
In the Asian session, at GMT0300, the pair is trading at 0.9927, with the USD trading 0.20% higher against the CHF from yesterday’s close.
The pair is expected to find support at 0.9906, and a fall through could take it to the next support level of 0.9886. The pair is expected to find its first resistance at 0.9938, and a rise through could take it to the next resistance level of 0.9950.
Trading trend in the Swiss Franc today, is expected to be determined by Switzerland’s consumer price index for August, set to release in a while.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
