USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined marginally against the CHF and closed at 0.9295.
Yesterday, the Swiss National Bank Vice-Chairman, Jean-Pierre Danthine, stated that central bank cannot easily adjust its cap on the Swiss Franc’s value. He further added that, even if bank consider, the Franc continues to be too strong, as the currency cap policy is not designed to allow fine tuning of the ceiling level, thereby defying speculation that it could move the lid to a weaker level.
In the Asian session, at GMT0400, the pair is trading at 0.9302, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 0.9278, and a fall through could take it to the next support level of 0.9255. The pair is expected to find its first resistance at 0.9326, and a rise through could take it to the next resistance level of 0.9351.
The currency pair is trading just above its 20 Hr and 50 Hr moving averages.
