USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.22% against the CHF and closed at 0.8903.
In Switzerland, on a seasonally adjusted basis, the nation’s unemployment rate for November stood at previous month’s level of 3.2%, matching broader expectations. However, the real retail sales in the nation rose 1.2% (YoY) in October, failing to meet market expectations for a 2.1% increase and compared to a 1.0% (YoY) rise registered in the preceding month.
In the Asian session, at GMT0400, the pair is trading at 0.8893, with the USD trading 0.11% lower from yesterday’s close.
The pair is expected to find support at 0.8873, and a fall through could take it to the next support level of 0.8853. The pair is expected to find its first resistance at 0.8924, and a rise through could take it to the next resistance level of 0.8955.
Amid lack of economic releases from Switzerland, traders are expected to keep a tab on global economic news for further guidance in the pair.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
