USDCHF Movement
For the 24 hours to 23:00 GMT, the USD marginally climbed against the CHF and closed at 1.0105 on Friday.
In economic news, Switzerland’s seasonally adjusted gross domestic product (GDP) remained flat on a quarterly basis in 3Q 2016, stagnating for the first time in more than a year, compared to a rise of 0.6% in the prior quarter, whereas investors had envisaged the economy to advance 0.3%.
In the Asian session, at GMT0400, the pair is trading at 1.0170, with the USD trading 0.64% higher against the CHF from Friday’s close.
The pair is expected to find support at 1.0100, and a fall through could take it to the next support level of 1.0029. The pair is expected to find its first resistance at 1.0211, and a rise through could take it to the next resistance level of 1.0251.
With no major economic releases in Switzerland today, investor sentiment would be governed by global macroeconomic factors.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
