USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.27% against the CHF and closed at 0.9546.
Yesterday, the SNB vice-chairman Jean-Pierre Danthine emphasised that the central bank’s policy of maintain cap on the Swiss Franc was essential for the right monetary conditions and stable prices in the nation. Meanwhile, the vice-chairman criticised the ECB’s recent move of introducing negative rates on overnight deposits and stated that the measures were not “completely appealing”, however they could be effective.
In the Asian session, at GMT0300, the pair is trading at 0.9542, with the USD trading marginally lower from yesterday’s close.
The pair is expected to find support at 0.9487, and a fall through could take it to the next support level of 0.9433. The pair is expected to find its first resistance at 0.9578, and a rise through could take it to the next resistance level of 0.9615.
Amid lack of economic releases from Switzerland today, investor sentiments would be governed by global macroeconomic news.
The currency pair is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.
