USDCHF Movement
On Friday, the USD rose 0.69% against the CHF and closed at 0.9779.
The Swiss Franc came under pressure after Switzerland’s foreign currency reserves unexpectedly narrowed to CHF462.4 billion in November, lower than market expected increase to CHF465.5 billion and following a revised level of CHF460.6 billion recorded in the preceding month.
In the Asian session, at GMT0400, the pair is trading at 0.9789, with the USD trading 0.1% higher from Friday’s close.
The pair is expected to find support at 0.9731, and a fall through could take it to the next support level of 0.9674. The pair is expected to find its first resistance at 0.9823, and a rise through could take it to the next resistance level of 0.9858.
Meanwhile, investors look ahead to the Swiss CPI coupled with real retail sales data, scheduled in a few hours.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
