USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.13% against the CHF and closed at 1.0286.
In economic news, Switzerland’s KOF leading indicator dropped to a level of 97.9 in November, reaching its lowest level since April, compared to market expectations of a drop to a reading of 100.2, and after registering a revised level of 100.4 in the previous month.
In the Asian session, at GMT0400, the pair is trading at 1.0276, with the USD trading 0.1% lower from yesterday’s close.
The pair is expected to find support at 1.0249, and a fall through could take it to the next support level of 1.0222. The pair is expected to find its first resistance at 1.0312, and a rise through could take it to the next resistance level of 1.0349.
Going ahead, investors will closely watch Switzerland’s Q3 GDP data, scheduled to be released in a few hours, to gauge the strength in the nation’s economy.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
