USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.09% against the CHF and closed at 0.9585.
On the macro front, Swiss trade balance surplus expanded to CHF3.26 billion in October, higher than market expectations to expand to CHF2.57 billion and following a revised trade surplus of CHF2.49 billion recorded in September.
In other economic news, Swiss monthly exports rebounded 4.7% in October, after registering a drop of 3.6% in the preceding month, while imports increased 2.7% on a monthly basis in the same month, down from a rise of 6.2% registered in the prior month.
Yesterday, the SNB Governing Board Member, Fritz Zurbruegg reiterated that the central bank would not shy away from implementing additional supplementary measures to defend its cap of 1.20 per euro on the Franc.
In the Asian session, at GMT0400, the pair is trading at 0.9571, with the USD trading 0.15% lower from yesterday’s close.
The pair is expected to find support at 0.9546, and a fall through could take it to the next support level of 0.9522. The pair is expected to find its first resistance at 0.9601, and a rise through could take it to the next resistance level of 0.9632.
Amid no economic releases from Switzerland today, investors look forward to Swiss quarterly employment level data, scheduled on Monday.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
