USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.14% against the CHF and closed at 1.0001 on Friday.
Data revealed that Switzerland’s KOF leading indicator unexpectedly slid to a level of 93.0 November, marking its lowest level since 2015 and defying market expectations for a rise to a level of 95.0. In the previous month, the index had recorded a revised reading of 94.8 in the previous month.
In the Asian session, at GMT0400, the pair is trading at 0.9999, with the USD trading slightly lower against the CHF from Friday’s close.
The pair is expected to find support at 0.9979, and a fall through could take it to the next support level of 0.9960. The pair is expected to find its first resistance at 1.0021, and a rise through could take it to the next resistance level of 1.0044.
Looking forward, investor would keep a close watch on Switzerland’s real retail sales for October and the manufacturing PMI for November, slated to release in a few hours.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
