USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.19% against the CHF and closed at 1.0267.
In economic news, Switzerland’s GDP unexpectedly stagnated on a quarterly basis in 3Q 2015, led by a weak performance in the energy, construction and financial sector. Investors had expected it to remain steady at 0.2%. Additionally, the nation’s real retails sales dropped 0.8% YoY in October, after falling by a revised 1.2% in the previous month. Also, the Swiss SVME purchasing managers index surprisingly eased to a level of 49.7, lower than market expectations of a rise to 50.8, and after recording a reading of 50.7 in the previous month.
In the Asian session, at GMT0400, the pair is trading at 1.0266, with the USD trading falt from yesterday’s close.
The pair is expected to find support at 1.0243, and a fall through could take it to the next support level of 1.0220. The pair is expected to find its first resistance at 1.0296, and a rise through could take it to the next resistance level of 1.0326.
Amid no economic releases in Switzerland today, investor sentiment would be governed by global macroeconomic news.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
