USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 1.00% against the CHF and closed at 0.9422. The Swiss Franc came under pressure after Bloomberg reported that a US custodian bank was planning to impose negative interest rates on all the Swiss Franc deposits from November 1.
In the Asian session, at GMT0300, the pair is trading at 0.9415, with the USD trading 0.07% lower from yesterday’s close.
The pair is expected to find support at 0.9357, and a fall through could take it to the next support level of 0.9298. The pair is expected to find its first resistance at 0.9453, and a rise through could take it to the next resistance level of 0.9491.
In absence of key economic releases in the Switzerland, trading trends in the pair today are expected to be determined by Swiss National Bank Chairman, Thomas Jordan’s speech.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
