USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.37% against the CHF and closed at 0.9140, after the Fed Vice Chair and Barack Obama’s nominated candidate to head the Fed, Janet Yellen said that the recovery in the US economy and job markets is way below its real potential, adding that the central bank’s stimulus measure should be in place to accelerate the pace of the US economic recovery.
In the Asian session, at GMT0400, the pair is trading at 0.9151, with the USD trading 0.12% higher from yesterday’s close.
The pair is expected to find support at 0.9116, and a fall through could take it to the next support level of 0.9081. The pair is expected to find its first resistance at 0.9194, and a rise through could take it to the next resistance level of 0.9237.
Switzerland’s Federal Statistical Office is scheduled to release a report on the nation’s producer and import prices, later today.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
