USDCHF Movement
On Friday, the USD rose 0.10% against the CHF and closed at 0.8908. The Swiss Franc lost momentum after the Swiss Federal Statistical Office (FSO) reported that the producer and import prices in Switzerland declined 0.1% on a monthly basis in November, following a decline of 0.4% in the previous month. Markets had expected Switzerland’s producer and import prices to increase 0.1% in November.
In the Asian session, at GMT0400, the pair is trading at 0.8885, with the USD trading 0.26% lower from Friday’s close.
The pair is expected to find support at 0.8871, and a fall through could take it to the next support level of 0.8856. The pair is expected to find its first resistance at 0.8909, and a rise through could take it to the next resistance level of 0.8932.
This week, trading trends in the pair are expected to be determined by the trade balance data along with the SECO Economic Forecasts and the Swiss National Bank (SNB)’s quarterly bulletin to be released towards the end of the week.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
