USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.40% against the CHF and closed at 0.9886.
The Swiss Franc gained ground, after Switzerland’s UBS consumption indicator rose to a level of 1.66 in November, compared to a revised reading of 1.63 in the previous month.
In the Asian session, at GMT0400, the pair is trading at 0.9883, with the USD trading marginally lower from yesterday’s close.
The pair is expected to find support at 0.9850, and a fall through could take it to the next support level of 0.9817. The pair is expected to find its first resistance at 0.9923, and a rise through could take it to the next resistance level of 0.9963.
Going ahead, investors will concentrate on Switzerland’s unemployment rate and consumer price inflation data, both for the month of December, scheduled to release later next week.
The currency pair is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
