USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.20% against the CHF and closed at 0.9567.
In economic news, the Swiss CPI advanced 0.1% on a monthly basis in September, less than market expectations for a rise of 0.2% and compared to a flat reading registered in the prior month. Meanwhile, the nation’s real retail sales registered a rise of 1.9%, beating market expectations for a rise of 0.7% and after registering a revised 0.3% drop in the prior month. Additionally, Swiss foreign currency reserves expanded to CHF 462.2 billion in September, exceeding market expectations to climb to CHF 457.5 billion. It follows a revised level of CHF 453.9 billion foreign currency reserves recorded in the previous month.
In the Asian session, at GMT0300, the pair is trading at 0.9593, with the USD trading 0.27% higher from yesterday’s close.
The pair is expected to find support at 0.9557, and a fall through could take it to the next support level of 0.9522. The pair is expected to find its first resistance at 0.9627, and a rise through could take it to the next resistance level of 0.9662.
Trading trends in the Swiss Franc today would determined by Swiss unemployment rate, scheduled in a few hours.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
