USDCHF Movement
For the 24 hours to 23:00 GMT, USD rose 1.52% against the CHF, on Friday, and closed at 0.8063.
The Swiss franc slid against greenback, after Federal Reserve Chairman, Ben S. Bernanke stopped short of signalling further stimulus, suggesting the world economy is not as weak as thought.
Additionally, on Friday, Swiss bank, UBS, stated that it may charge client banks a fee on cash accounts they use to clear transactions, in a move to discourage them from using the accounts to hoard safe-haven Swiss francs.
In Switzerland, the KOF leading growth indicator, declined to 1.61 in August from 1.98 in the previous month.
In the Asian session, at 3:00GMT, the USD is trading at 0.8094, 0.38% higher versus Swiss Franc, from Friday’s close at 23:00 GMT.
The pair has its first short term resistance at 0.8202, followed by the next resistance at 0.8309. The first area of support is at 0.7938 level, with the subsequent support at 0.7781.
The currency pair is trading well above its 20 Hr and its 50 Hr moving averages.
