USDCHF Movement
For the 24 hours to 23:00 GMT, USD rose 0.51% against the CHF and closed at 0.7262.
The Swiss franc was pressured after the Swiss National Bank (SNB) intervened in the currency markets to contain the appreciation of the Swiss franc. The central bank also added that it would increase the supply of liquidity to the Swiss franc money market.
In the Asian session, at 3:00GMT, the pair is trading at 0.7269, 0.10% higher from yesterday’s close at 23:00 GMT.
The pair has its first short term resistance at 0.7341, followed by the next resistance at 0.7413. The first area of support is at 0.7187 level, with the subsequent support at 0.7105.
The currency pair is showing convergence with its 20 Hr moving average and is trading just below its 50 Hr moving average.
