USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.59% against the CHF and closed at 1.0023.
On the macro front, Switzerland’s consumer price index (CPI) rose 1.1% on an annual basis in October, at par with market expectations. In the prior month, the CPI had recorded an advance of 1.0%. Additionally, the SECO consumer confidence index slightly advanced to a level of -6 in October, compared to market consensus for an unchanged reading. In the previous month, the index had recorded a reading of -7.
On the other hand, the nation’s SVME manufacturing PMI eased to 57.4 in October, compared to market expectations for a fall to 58.7. The SVME manufacturing PMI had registered a level of 59.7 in the previous month.
In the Asian session, at GMT0400, the pair is trading at 1.0018, with the USD trading 0.05% lower against the CHF from yesterday’s close.
The pair is expected to find support at 0.9989, and a fall through could take it to the next support level of 0.9961. The pair is expected to find its first resistance at 1.0058, and a rise through could take it to the next resistance level of 1.0099.
Trading trend in the Swiss Franc today is expected to be determined by Switzerland’s retail sales for September, set to release in a while.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
