USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.08% against the CHF and closed at 0.9919.
In economic news, Switzerland’s M3 money supply advanced 3.5% on a yearly basis in February, following a revised rise of 3.2% in the previous month.
The Swiss National Bank in its monetary policy meeting, decided to leave its benchmark interest rate unchanged at -0.75%, as widely expected and highlighted concerns over global political and economic uncertainty. Further, the central bank slashed its 2019 inflation outlook to 0.3% from 0.5% and 0.4% from 0.6% for 2020.
In the Asian session, at GMT0400, the pair is trading at 0.9928, with the USD trading 0.09% higher against the CHF from yesterday’s close.
The pair is expected to find support at 0.9907, and a fall through could take it to the next support level of 0.9887. The pair is expected to find its first resistance at 0.9947, and a rise through could take it to the next resistance level of 0.9967.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
