USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.09% against the CHF and closed at 0.9653, following positive October ISM manufacturing data from the US.
In economic news, the Swiss SVME PMI edged up to 55.3, registering its highest level since April, beating market expectations to climb to a level of 51.3 and compared to a reading of 50.4 registered in the previous month.
In the Asian session, at GMT0400, the pair is trading at 0.9627, with the USD trading 0.27% lower from yesterday’s close.
The pair is expected to find support at 0.9612, and a fall through could take it to the next support level of 0.9598. The pair is expected to find its first resistance at 0.9654, and a rise through could take it to the next resistance level of 0.9682.
Amid a light economic calendar today, investors would await Swiss inflation numbers scheduled tomorrow for more insights on the Swiss economy.
The currency pair is trading below its 20 Hr moving average and showing convergence with its 50 Hr moving average.
