USDCHF Movement
For the 24 hours to 23:00 GMT, USD declined slightly against the CHF and closed at 0.9198.
Switzerland’s President, Micheline Calmy-Rey stated that the overvaluation of the Swiss Franc posed a serious threat to the economy and carried the risk of deflation and added that the Swiss National Bank was committed to “a substantial and lasting weakening of the Franc.”
In the Asian session, at GMT0400, the pair is trading at 0.9221, with the USD trading 0.25% higher from yesterday’s close.
The pair is expected to find support at 0.9176, and a fall through could take it to the next support level of 0.9131. The pair is expected to find its first resistance at 0.9244, and a rise through could take it to the next resistance level of 0.9266.
The currency pair is trading above with its 20 Hr and 50 Hr moving averages.
