USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.18% against the CHF and closed at 1.0109.
Macroeconomic data indicated that, Switzerland’s trade surplus narrowed more-than-expected to a level of CHF 2.7 billion in October, compared to a revised trade surplus of CHF 4.3 billion in the prior month whereas markets anticipated the nation to post a trade surplus of CHF 3.9 billion. Moreover, the nation’s exports slid 4.7% in October while imports advanced by 2.8% in the same month.
In the Asian session, at GMT0400, the pair is trading at 1.0109, with the USD trading flat against the CHF from yesterday’s close.
The pair is expected to find support at 1.0075, and a fall through could take it to the next support level of 1.0042. The pair is expected to find its first resistance at 1.0138, and a rise through could take it to the next resistance level of 1.0168.
Amid a lack of economic releases in Switzerland today, investors would look forward to global events for further direction.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
