USDCHF Movement
For the 24 hours to 23:00 GMT, USD declined marginally against the CHF and closed at 0.9560.
The Swiss Franc fell after the Swiss National Bank (SNB) Vice Chairman, Jean-Pierre Danthine, stated that the Swiss Franc is still over-valued. Additionally, he stated that the country’s booming real estate market poses an increasing risk to its financial stability.
On the economic front, the consumer prices index in Switzerland fell 0.5% (YoY) in August, against the expectations for a 0.4% drop.
In the Asian session, at GMT0300, the pair is trading at 0.9559, with the USD trading flat from yesterday’s close.
The pair is expected to find support at 0.9523, and a fall through could take it to the next support level of 0.9488. The pair is expected to find its first resistance at 0.9601, and a rise through could take it to the next resistance level of 0.9644.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
