USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.22% against the CHF and closed at 0.9955.
In economic news, Switzerland’s consumer price index registered an unexpected rise of 0.1% MoM in October, marking its second consecutive monthly increase, after witnessing a similar rise in September. Investors had expected a flat reading. Also, the nation’s SECO consumer climate index slightly advanced to a level of -18 in 4Q of 2015, from a reading of -19 in the previous quarter, and compared to investor expectations of a rise to -17.
In the Asian session, at GMT0400, the pair is trading at 0.9953, with the USD trading marginally lower from yesterday’s close.
The pair is expected to find support at 0.9928, and a fall through could take it to the next support level of 0.9902. The pair is expected to find its first resistance at 0.998, and a rise through could take it to the next resistance level of 1.0006.
Going ahead, market participants will look forward to Switzerland’s unemployment rate data for October, scheduled to be released next week.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
