USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.24% against the CHF and closed at 0.9061, amid thin-holiday trade.
Meanwhile, the Swiss Franc gained ground against its US counterpart, after an official report confirmed that Switzerland’s gross domestic product (GDP) rose 1.9% (YoY) in the third quarter, more than analysts’ expectation for a 1.7% rise and compared to a 2.5% (YoY) increase witnessed in the preceding quarter.
In the Asian session, at GMT0400, the pair is trading at 0.9054, with the USD trading 0.08% lower from yesterday’s close.
The pair is expected to find support at 0.9036, and a fall through could take it to the next support level of 0.9017. The pair is expected to find its first resistance at 0.9078, and a rise through could take it to the next resistance level of 0.9101.
Traders are expected to keep a tab on the release of the KOF Swiss leading indicator, which is widely expected to show an improvement in November.
The currency pair is showing convergence with its 20 Hr moving average and is trading just below its 50 Hr moving average.
