USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.16% against the CHF and closed at 0.9892.
On the macro front, Switzerland’s ZEW economic expectations index rose to a level of 32.0 in October. In the previous month, the index had registered a reading of 28.0. Further, the nation’s UBS consumption indicator registered a rise to 1.56 in September, after recording a revised reading of 1.50 in the prior month.
In the Asian session, at GMT0300, the pair is trading at 0.9890, with the USD trading marginally lower against the CHF from yesterday’s close.
The pair is expected to find support at 0.9859, and a fall through could take it to the next support level of 0.9829. The pair is expected to find its first resistance at 0.9930, and a rise through could take it to the next resistance level of 0.9971.
Amid no major macroeconomic releases in Switzerland today, investors will focus on global macroeconomic factors for further direction.
The currency pair is trading below its 20 Hr moving average and showing convergence with its 50 Hr moving average.
