USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.23% against the CHF and closed at 0.9316, amid hopes of additional monetary stimulus by the Federal Reserve and after economic data showed a widening US trade deficit.
Trade deficit in the US widened to $42.2 billion in October, compared to a revised deficit of $40.3 billion recorded in September.
In the Asian session, at GMT0400, the pair is trading at 0.9318, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 0.9299, and a fall through could take it to the next support level of 0.9279. The pair is expected to find its first resistance at 0.9354, and a rise through could take it to the next resistance level of 0.9389.
The ZEW Survey’s expectations data is the key economic indicator scheduled for release today in Switzerland.
The currency pair is trading just above its 20 Hr and 50 Hr moving averages.
