USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.26% against the CHF and closed at 0.9089, after a report showed that manufacturing activities in the US unexpectedly accelerated in November at the fastest pace since April 2011.
In Switzerland, the SVME manufacturing purchasing managers index (PMI) advanced to a reading of 56.5 in November, surpassing analysts’ call for a rise to 55.0 and compared to previous month’s reading of 54.2.
In the Asian session, at GMT0400, the pair is trading at 0.9095, with the USD trading 0.07% higher from yesterday’s close.
The pair is expected to find support at 0.9055, and a fall through could take it to the next support level of 0.9015. The pair is expected to find its first resistance at 0.9123, and a rise through could take it to the next resistance level of 0.9151.
With no major economic releases in the Swiss economy, market participants are expected to focus on global economic news.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
