USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.1% against the CHF and closed at 0.9897.
On Friday, data indicated that Switzerland’s KOF leading indicator climbed to a level of 111.3 in December, compared to a revised reading of 110.4 in the previous month, while markets had expected for a rise to a level of 110.5.
In the Asian session, at GMT0400, the pair is trading at 0.9896, with the USD trading slightly lower against the CHF from yesterday’s close.
The pair is expected to find support at 0.9883, and a fall through could take it to the next support level of 0.9871. The pair is expected to find its first resistance at 0.9912, and a rise through could take it to the next resistance level of 0.9929.
Ahead in the day, market participants would closely monitor Switzerland’s ZEW expectations index for December and UBS consumption indicator November.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
