USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.07% against the CHF and closed at 0.9175.
In Switzerland, producer and imports price index rose 0.8% annually in January, compared to 1.1% rise expected by markets.
Meanwhile, the Swiss government yesterday asked banks to hold more capital reserves, in a move to stop country’s housing market from running out of control. The nation’s governing Federal Council, announced it is “taking action against an excessive rise in prices in the real estate market and exorbitant mortgage debt” that threatens Swiss banks and the economy.
In the Asian session, at GMT0400, the pair is trading at 0.9172, with the USD trading marginally lower from yesterday’s close.
The pair is expected to find support at 0.9150, and a fall through could take it to the next support level of 0.9129. The pair is expected to find its first resistance at 0.9195, and a rise through could take it to the next resistance level of 0.9219.
With no key economic releases in the day ahead, Swiss Franc is expected to ride on general market cues against the greenback.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
