USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.29% against the CHF and closed at 0.9561.
In economic news, Switzerland’s total sight deposits inched up to CHF465.9 billion in the week ended 16 October from CHF465.3 billion in the previous week. Meanwhile, domestic sight deposits for the week ended 16 October, dropped to CHF399.1 billion, compared to CHF401.2 billion in the previous week.
In the Asian session, at GMT0300, the pair is trading at 0.9559, with the USD trading marginally lower from yesterday’s close.
The pair is expected to find support at 0.9527, and a fall through could take it to the next support level of 0.9495. The pair is expected to find its first resistance at 0.9585, and a rise through could take it to the next resistance level of 0.9612.
Moving ahead, market participants will keep an eye on Switzerland’s trade balance data for September, scheduled to be released in a few hours.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
