USDCHF Movement
For the 24 hours to 23:00 GMT, the USD slightly declined against the CHF and closed at 0.9868.
Data revealed that Switzerland’s SVME manufacturing PMI unexpectedly advanced to a level of 57.8 in December, cofounding market expectations for a fall to a level of 56.9. In the prior month, the PMI had registered a reading of 57.7.
In the Asian session, at GMT0400, the pair is trading at 0.9870, with the USD trading marginally higher against the CHF from yesterday’s close.
The pair is expected to find support at 0.9844, and a fall through could take it to the next support level of 0.9819. The pair is expected to find its first resistance at 0.9898, and a rise through could take it to the next resistance level of 0.9927.
With no macroeconomic releases in Switzerland today, investors would look forward to global macroeconomic releases for further directions.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
