USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.89% against the CHF and closed at 0.9914.
On the macro front, Switzerland’s SVME manufacturing PMI eased to a level of 48.8 in November, less than market consensus for a drop to a level of 48.6. In the prior month, the PMI had registered a level of 49.4. Meanwhile, the nation’s real retail sales unexpectedly climbed 0.7% on an annual basis in October, defying market expectations for a fall of 0.4%. Real retail sales had registered a revised rise of 1.6% in the previous month.
In the Asian session, at GMT0400, the pair is trading at 0.9923, with the USD trading 0.09% higher against the CHF from yesterday’s close.
The pair is expected to find support at 0.9887, and a fall through could take it to the next support level of 0.9852. The pair is expected to find its first resistance at 0.9982, and a rise through could take it to the next resistance level of 1.0042.
Trading trends in the Swiss Franc today, is expected to be determined by Switzerland’s consumer price index for November, set to release in a while.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
