USDCHF Movement
On Friday, the USD rose 0.10% against the CHF and closed at 0.9333.
On Saturday, the Swiss National Bank’s Chairman, Thomas Jordan stated that the risk of a resurgence in the global financial crisis indicates that the Swiss National Bank’s exchange rate cap is still essential.
In the Asian session, at GMT0300, the pair is trading at 0.9321, with the USD trading 0.13% lower from Friday’s close.
The pair is expected to find support at 0.9285, and a fall through could take it to the next support level of 0.9248. The pair is expected to find its first resistance at 0.9349, and a rise through could take it to the next resistance level of 0.9376.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
