USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.08% against the CHF and closed at 0.9943.
In the economic news, Switzerland’s M3 money supply advanced 2.5% on an annual basis in October. In the previous month, M3 money supply had recorded a gain of 2.3%.
In the Asian session, at GMT0400, the pair is trading at 0.9939, with the USD trading slightly lower against the CHF from yesterday’s close.
The pair is expected to find support at 0.9925, and a fall through could take it to the next support level of 0.9911. The pair is expected to find its first resistance at 0.9956, and a rise through could take it to the next resistance level of 0.9973.
Trading trend in the Swiss Franc today is expected to be determined by Switzerland’s 3Q industrial output data, set to release in a while.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
