USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.52% against the CHF and closed at 0.9710. The Swiss Franc gained ground after Switzerland’s seasonally adjusted unemployment rate remained unchanged at 3.1% in November, lower than market expectations of a rise to a level of 3.2%.
In the Asian session, at GMT0400, the pair is trading at 0.9707, with the USD trading marginally lower from yesterday’s close.
The pair is expected to find support at 0.9647, and a fall through could take it to the next support level of 0.9587. The pair is expected to find its first resistance at 0.9773, and a rise through could take it to the next resistance level of 0.9839.
Looking ahead, market participants look forward to the SNB’s interest rate decision, scheduled for tomorrow.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
