USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.50% against the CHF and closed at 0.9021, as traders exercised caution in taking riskier bets amid a government shut down in the US. Meanwhile, a key Fed official stated that the central bank’s easy policy stance, including its bond-buying program, could last for “several years” to make sure that the economy is on track for solid growth and moderate inflation.
In the Asian session, at GMT0300, the pair is trading at 0.9009, with the USD trading 0.13% lower from yesterday’s close.
The pair is expected to find support at 0.8979, and a fall through could take it to the next support level of 0.8950. The pair is expected to find its first resistance at 0.9053, and a rise through could take it to the next resistance level of 0.9098.
With no economic releases from Switzerland, traders are monitoring global economic news for further guidance in the pair.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
