USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.47% against the CHF and closed at 1.0162.
The Swiss Franc lost ground, after Switzerland’s KOF leading indicator unexpectedly dropped to a level of 102.2 in November, defying market expectations for it to rise to a level of 104.0 and after registering a revised level of 103.9 in the prior month. On the other hand, the nation’s UBS consumption indicator advanced to a level of 1.49 in October, following a revised reading of 1.47 in the previous month.
In the Asian session, at GMT0400, the pair is trading at 1.0161, with the USD trading a tad lower against the CHF from yesterday’s close.
The pair is expected to find support at 1.0117, and a fall through could take it to the next support level of 1.0074. The pair is expected to find its first resistance at 1.0204, and a rise through could take it to the next resistance level of 1.0248.
Going ahead, market participants would await the release of Switzerland’s real retail sales for October and SVME-purchasing managers’ index for November, due to release in a few hours.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
