USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.61% against the CHF and closed at 0.9966.
In economic news, Switzerland’s producer and import price index rose by 0.1% on a monthly basis in October, lower than market expectations for an advance of 0.2% and following a rise of 0.3% in the previous month. Meanwhile, the nation’s total sight deposits nudged down to a level of CHF449.8 billion in the week ended 11 November, from CHF451.8 billion in the previous week.
In the Asian session, at GMT0400, the pair is trading at 0.9965, with the USD trading slightly lower against the CHF from yesterday’s close.
The pair is expected to find support at 0.9911, and a fall through could take it to the next support level of 0.9857. The pair is expected to find its first resistance at 1.001, and a rise through could take it to the next resistance level of 1.0055.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
