USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose marginally against the CHF and closed at 0.9874.
In economic news, Switzerland’s real retail sales rose 0.2% YoY in September, increasing for the first time in three months, and following an upwardly revised 0.6% drop in August.
Further, the nation’s SVME purchasing managers index rose to a level of 50.7 in October, from a reading of 49.5 in the previous month. Investors had expected it to rise to a level of 50.1.
In the Asian session, at GMT0400, the pair is trading at 0.9869, with the USD trading marginally lower from yesterday’s close.
The pair is expected to find support at 0.9838, and a fall through could take it to the next support level of 0.9808. The pair is expected to find its first resistance at 0.9896, and a rise through could take it to the next resistance level of 0.9924.
Amid no economic releases in Switzerland today, investor sentiment would be governed by global macroeconomic news.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
