USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.61% against the CHF and closed at 0.9874 on Friday.
In economic news, Switzerland’s KOF leading indicator index rose more-than-anticipated to a level of 104.7 in October, notching its highest level since January 2014, thus boosting optimism in the overall economic outlook. Market had envisaged for the index to rise to a level of 101.8 and following a revised reading of 101.6 in the prior month.
In the Asian session, at GMT0400, the pair is trading at 0.9875, with the USD trading a tad higher against the CHF from Friday’s close.
The pair is expected to find support at 0.9835, and a fall through could take it to the next support level of 0.9795. The pair is expected to find its first resistance at 0.9933, and a rise through could take it to the next resistance level of 0.9991.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
