USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.29% against the CHF and closed at 0.9029. In Switzerland, an official data showed that the nation’s foreign currency reserves declined from previous month’s level of CHF434.2 billion to CHF432.4 billion in September, at par with market expectation.
In the Asian session, at GMT0300, the pair is trading at 0.9045, with the USD trading 0.18% higher from yesterday’s close.
The pair is expected to find support at 0.9019, and a fall through could take it to the next support level of 0.8993. The pair is expected to find its first resistance at 0.9067, and a rise through could take it to the next resistance level of 0.9089.
Trading trends in the Swiss Franc is expected to be determined by the Swiss Nation Bank (SNB) Chairman, Thomas Jordan’s speech, scheduled to commence later today. Traders are also expected to keep an eye on Switzerland’s unemployment data, due to be released during the later course of the day.
The currency pair is trading just above its 20 Hr and 50 Hr moving averages.
