USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.66% against the CHF and closed at 0.9092, following a broad strength in the dollar following comments by the Chicago Fed President, Charles Evans, and after the Fed expressed a brighter outlook for growth in the US economy, in its Beige Book.
In Switzerland, the Swiss Federal Statistical Office reported that the real retail sales in the nation advanced more-than-expected 4.2% (YoY) in November, following a 1.6% rise registered in the previous month.
In the Asian session, at GMT0400, the pair is trading at 0.9084, with the USD trading 0.09% lower from yesterday’s close.
The pair is expected to find support at 0.9053, and a fall through could take it to the next support level of 0.9021. The pair is expected to find its first resistance at 0.9113, and a rise through could take it to the next resistance level of 0.9141.
Market participants would keep a close watch on the Swiss National Bank’s (SNB) Chairman, Thomas Jordan’s speech, due later today.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
