USDCHF Movement
For the 24 hours to 23:00 GMT, USD declined 0.22% against the CHF and closed at 0.9352.
In Switzerland, the producer price index rose by a seasonally adjusted 0.5% (MoM) in August, against the expectations for a 0.4% decline.
Yesterday, the Swiss National Bank (SNB) has kept its benchmark interest rate unchanged at 0.00-0.25% in September and reaffirmed its commitment to the minimum exchange rate of CHF1.20 per Euro.. Additionally, the central bank lowered its 2012 GDP forecast to around 1.0% against the 1.5% growth estimated in June, citing deterioration in the global economic outlook.
In the Asian session, at GMT0300, the pair is trading at 0.9343, with the USD trading 0.1% lower from yesterday’s close.
The pair is expected to find support at 0.9317, and a fall through could take it to the next support level of 0.9290. The pair is expected to find its first resistance at 0.9395, and a rise through could take it to the next resistance level of 0.9446.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
