USD/CHF: Swiss Franc trading higher, ahead of the SNB’s interest rate decision


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD declined 0.88% against the CHF and closed at 1.0004.

On the macro front, Switzerland’s producer and import price index unexpectedly dropped 0.2% on a monthly basis in February, compared with an advance of 0.4% in the prior month, whereas markets were expecting the index to climb 0.4%.

In the Asian session, at GMT0400, the pair is trading at 0.9998, with the USD trading 0.06% lower against the CHF from yesterday’s close.

The pair is expected to find support at 0.9953, and a fall through could take it to the next support level of 0.9907. The pair is expected to find its first resistance at 1.0071, and a rise through could take it to the next resistance level of 1.0143.

Ahead in the day, all eyes will be on the Swiss National Bank’s (SNB) interest rate decision.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.

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