USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.79% against the CHF and closed at 0.9075.
In the Asian session, at GMT0400, the pair is trading at 0.9078, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 0.9016, and a fall through could take it to the next support level of 0.8954. The pair is expected to find its first resistance at 0.9116, and a rise through could take it to the next resistance level of 0.9154.
Traders are expected to keep a close watch on the release of SVME purchasing managers’ index from Switzerland, for further direction in the Swiss Franc. Market expectations are for a reading of 55.5 in October after a reading of 55.3 in the preceding month.
The currency pair is trading above with its 20 Hr and 50 Hr moving averages.
