USDCHF Movement
For the 24 hours to 23:00 GMT, USD rose 1.21% against the CHF, on Friday, and closed at 0.9309, following rumors that the SNB may have intervened in the foreign exchange market.
The Swiss National Bank (SNB) Vice President, Thomas Jordan, on Sunday, stated that the country’s economy is facing a difficult period of low growth, or possibly even a slight contraction, and the SNB is prepared to take new monetary policy measures if necessary .
In the Asian session, at GMT0400, the pair is trading at 0.9286, with the USD trading 0.25% lower from Friday’s close.
The pair is expected to find support at 0.9222, and a fall through could take it to the next support level of 0.9157. The pair is expected to find its first resistance at 0.9340, and a rise through could take it to the next resistance level of 0.9395.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
