USDCHF Movement
On Friday, the USD rose 0.25% against the CHF and closed at 0.9225.
On Sunday, the Swiss National Bank (SNB) Vice Chairman, Jean-Pierre Danthine stated that SNB would enforce its cap on the Swiss Franc for as long as it is necessary.
In the Asian session, at GMT0300, the pair is trading at 0.9241, with the USD trading 0.17% higher from Friday’s close.
The pair is expected to find support at 0.9206, and a fall through could take it to the next support level of 0.9172. The pair is expected to find its first resistance at 0.9259, and a rise through could take it to the next resistance level of 0.9278.
Later today, the Switzerland is slated to release its real retail sales data that is forecast to post a substantial rise in June.
The currency pair is trading just above its 20 Hr and 50 Hr moving averages.
