USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined slightly against the CHF and closed at 0.9746.
Macroeconomic data indicated that, Switzerland’s consumer price index advanced less-than-anticipated by 0.1% MoM in October, compared to a similar rise in the previous month while markets expected for a rise of 0.2%.
In the Asian session, at GMT0400, the pair is trading at 0.9744, with the USD trading marginally lower against the CHF from yesterday’s close.
The pair is expected to find support at 0.9721, and a fall through could take it to the next support level of 0.9698. The pair is expected to find its first resistance at 0.9778, and a rise through could take it to the next resistance level of 0.9812.
Looking forward, investors would keep a close watch on Switzerland’s unemployment rate for October, scheduled to release in some time.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
