USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.07% against the CHF and closed at 0.9143, as investors cheered the US Senate’s decision to agree on the nation debt ceiling deal and avoid the nation from a default. However, USD’s gain against the Swiss Franc were kept in check after a report revealed that the ZEW survey expectation in Switzerland rose to a level of 24.9 in October, more than analysts’ expectation for a rise to 21.0 and compared to a reading of 16.3 recorded in the preceding month.
In the Asian session, at GMT0300, the pair is trading at 0.9123, with the USD trading 0.22% lower from yesterday’s close.
The pair is expected to find support at 0.9088, and a fall through could take it to the next support level of 0.9053. The pair is expected to find its first resistance at 0.9167, and a rise through could take it to the next resistance level of 0.9211.
With no major economic releases from Switzerland, market participants are monitoring global economic news for further direction in the pair.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
