USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.28% against the CHF and closed at 0.9769.
The Swiss France declined after the nation’s real retail sales fell more-than-expected to 0.3% YoY in August, in contrast to a revised increase of 0.1% in July. In addition to this, the country’s SVME manufacturing PMI for September contracted to 49.5 from 52.2 in the previous month.
In the Asian session, at GMT0300, the pair is trading at 0.9774, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 0.9733, and a fall through could take it to the next support level of 0.9693. The pair is expected to find its first resistance at 0.9802, and a rise through could take it to the next resistance level of 0.9831.
Going ahead, market participants will keep a close eye on Switzerland’s consumer prices and unemployment rate data, both for the month of September, scheduled to release in the next week
The currency pair is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
