USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.85% against the CHF and closed at 0.9673.
The Swiss Franc came under pressure, after the nation’s consumer prices fell for the eleventh consecutive month by 1.4% YoY in September, recording its biggest annual drop since 1959, the same rate of decline posted in August. Investors had forecasted the CPI to fall 1.5%.
On the other hand, consumer prices gained 0.1% on a monthly basis in September, reversing prior month’s 0.2% drop, while markets expected it to remain flat.
In the Asian session, at GMT0300, the pair is trading at 0.9666, with the USD trading marginally lower from yesterday’s close.
The pair is expected to find support at 0.9627, and a fall through could take it to the next support level of 0.9588. The pair is expected to find its first resistance at 0.9737, and a rise through could take it to the next resistance level of 0.9808.
Going ahead, market participants will keep a close eye on Switzerland’s unemployment rate for September, scheduled to release tomorrow.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
