USDCHF Movement
For the 24 hours to 23:00 GMT, USD declined marginally against the CHF and closed at 0.9175, following reports showing strong Swiss money supply data.
The Swiss National Bank reported that the money supply increased 8.2% (YoY) in October, following a 7.9% growth in September.
In the Asian session, at GMT0400, the pair is trading at 0.9184, with the USD trading 0.10% higher from yesterday’s close.
The pair is expected to find support at 0.9147, and a fall through could take it to the next support level of 0.9109. The pair is expected to find its first resistance at 0.9216, and a rise through could take it to the next resistance level of 0.9247.
Trading trends in the pair today are expected to be determined by trade balance data release in Switzerland.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
