USDCHF Movement
For the 24 hours to 23:00 GMT, the USD slightly declined against the CHF and closed at 0.9963.
Macroeconomic data showed that Switzerland’s M3 money supply climbed 2.3% on an annual basis in September, following a rise of 2.5% in the preceding month. Additionally, the nation’s total sight deposits advanced to a level of CHF577.9 billion in the week ended 19 October, from CHF577.6 billion in the previous week.
In the Asian session, at GMT0300, the pair is trading at 0.9968, with the USD trading 0.05% higher against the CHF from yesterday’s close.
The pair is expected to find support at 0.9945, and a fall through could take it to the next support level of 0.9923. The pair is expected to find its first resistance at 0.9985, and a rise through could take it to the next resistance level of 1.0003.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
