USDCHF Movement
On Friday, the USD declined 0.45% against the CHF and closed at 0.9413.
Over the weekend, the Swiss National Bank (SNB) President Thomas Jordan stated that he does not intend to change or scrap a Franc ceiling of 1.20 versus the Euro and that the bank will maintain its minimum exchange rate floor for as long as necessary.
In the Asian session, at GMT0300, the pair is trading at 0.9394, with the USD trading 0.20% lower from Friday’s close.
The pair is expected to find support at 0.9370, and a fall through could take it to the next support level of 0.9345. The pair is expected to find its first resistance at 0.9432, and a rise through could take it to the next resistance level of 0.9469.
Ahead today, Switzerland is scheduled to release its monthly statistical bulletin for July.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
