USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.21% against the CHF and closed at 0.8937.
The Swiss Franc gained momentum after data indicated that the consumption indicator in Switzerland rose to a level of 1.43 in November, following a revised level of 1.26 recorded in October. Moreover, other data from the from the Swiss National Bank (SNB) revealed that the M3 money supply in Switzerland increased 8.5% on an annual basis in November, following a revised 8.9% rise recorded in the prior month.
In the Asian session, at GMT0400, the pair is trading at 0.8949, with the USD trading 0.13% higher from yesterday’s close.
The pair is expected to find support at 0.8925, and a fall through could take it to the next support level of 0.8902. The pair is expected to find its first resistance at 0.8970, and a rise through could take it to the next resistance level of 0.8992.
With no releases from Switzerland today, trading trends would likely be determined by other global factors.
The currency pair is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
