USDCHF Movement
For the 24 hours to 23:00 GMT, USD declined 0.62% against the CHF and closed at 0.8953.
Swiss franc rose against the greenback after the Swiss National Bank Vice-President, Thomas Jordan hinted at a change in the bank’s Franc policy, raising investor’s expectation about the further currency weakening measures from the central bank.
In economic news, the Swiss SECO Consumer Climate declined to -24.0 for the three months to October, from -17.0 for the three months to September.
In the Asian session, at 4:00GMT, the USD is trading at 0.8953, flat versus Swiss Franc, from yesterday’s close at 23:00 GMT.
The pair is expected to find support at 0.8895, and a fall through could take it to the next support level of 0.8836. The pair is expected to find its first resistance at 0.9040, and a rise through could take it to the next resistance level of 0.9126.
The currency pair is showing convergence with its 20 Hr moving average and is trading just below its 50 Hr moving average.
