USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 1.41% against the CHF and closed at 0.9750.
Macroeconomic data indicated that Switzerland’s real retail sales eased by 2.3% on an annual basis in September, more than market expectations for a fall of 2.2%. In the prior month, real retail sales had registered a revised drop of 2.8%. Additionally, the nation’s SVME-purchasing managers’ index rose to a level of 54.7 in October, compared to a level of 53.2 in the prior month and surpassing market expectations for it to advance to a level of 53.9.
In the Asian session, at GMT0400, the pair is trading at 0.9728, with the USD trading 0.23% lower against the USD from yesterday’s close.
The pair is expected to find support at 0.9668, and a fall through could take it to the next support level of 0.9607. The pair is expected to find its first resistance at 0.9845, and a rise through could take it to the next resistance level of 0.9961.
Investors would concentrate on Switzerland’s UBS Real Estate Bubble Index (3Q), due to release in some time.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
