USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.15% against the CHF and closed at 0.9084.
On the economic front, the Swiss UBS consumption indicator for October retreated to 1.28 from a reading of 1.56 reported in September, citing lower assessment of business conditions in the retail sector.
In the Asian session, at GMT0400, the pair is trading at 0.9075, with the USD trading 0.10% lower from yesterday’s close.
The pair is expected to find support at 0.9045, and a fall through could take it to the next support level of 0.9014. The pair is expected to find its first resistance at 0.9100, and a rise through could take it to the next resistance level of 0.9124.
Later during the day the release of the third quarter GDP data in Switzerland would determine the trading trend for the Swiss Franc in the next few sessions.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
