USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.63% against the CHF and closed at 0.9267, as the dollar weakened in the wake of the Fed’s decision to launch the bond-buying program to keep the recovery going in the jobs market. The central bank also set thresholds on unemployment and inflation.
Moreover on the data front, the European Economic Research (ZEW) and Credit Suisse reported that the Economic Expectations Index in Switzerland rose to a reading of -15.5 points in December from a reading of -27.9 posted in November. Meanwhile, the current situation index rose to a reading of 6.6 in December.
In the Asian session, at GMT0400, the pair is trading at 0.9264, with the USD trading flat from yesterday’s close.
The pair is expected to find support at 0.9230, and a fall through could take it to the next support level of 0.9196. The pair is expected to find its first resistance at 0.9312, and a rise through could take it to the next resistance level of 0.9360.
Along with the SNB’s crucial rate setting meeting on deck for the day, markets keenly await SECO economic forecasts and producer & import prices data in Switzerland.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
