USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.32% against the CHF and closed at 0.9377.
Yesterday, the Swiss National Bank (SNB) Chairman, Thomas Jordan, affirmed that the EUR/CHF cap remained the right tool, given that the Franc was still highly valued adding that the downside risks to the Swiss economy would stay high. Meanwhile, regarding the Euro-zone, he stated that falling sovereign bond yields supported the view that a gradual recovery in Europe was underway. However, he added that it is too early to say the Euro-zone crisis has started to subside.
In the Asian session, at GMT0300, the pair is trading at 0.9378, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 0.9343, and a fall through could take it to the next support level of 0.9307. The pair is expected to find its first resistance at 0.9399, and a rise through could take it to the next resistance level of 0.9420.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
