USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.57% against the CHF and closed at 0.9649. The Swiss Franc lost ground, after Switzerland’s monthly consumer prices remained flat in October, after advancing 0.1% in the previous month, while market expectations were for it to ease 0.1%.
In the Asian session, at GMT0400, the pair is trading at 0.9640, with the USD trading 0.09% lower from yesterday’s close.
The pair is expected to find support at 0.9595, and a fall through could take it to the next support level of 0.9549. The pair is expected to find its first resistance at 0.9675, and a rise through could take it to the next resistance level of 0.9709.
Going forward, investors look forward to Switzerland’s SECO consumer confidence index, set for release in a few hours from now.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
