USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose marginally against the CHF and closed at 0.9464, amid positive US economic data.
In the US, trade deficit narrowed to $41.5 billion in September, from a revised deficit of $43.8 billion in August. Separately, initial jobless claims fell to 355,000 in the week ended November 6, from the previous week’s unrevised figure of 363,000.
On the other hand, Switzerland’s seasonally adjusted unemployment rate rose to 3.0% in October, from 2.9% in September.
In the Asian session, at GMT0400, the pair is trading at 0.9441, with the USD trading 0.25% lower from yesterday’s close.
The pair is expected to find support at 0.9423, and a fall through could take it to the next support level of 0.9405. The pair is expected to find its first resistance at 0.9470, and a rise through could take it to the next resistance level of 0.9500.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
