USDCHF Movement
For the 24 hours to 23:00 GMT, USD declined 0.17% against the CHF and closed at 0.8981.
In Switzerland, industrial production rose by 7.4% in 4Q2010 from 3Q2010. Additionally, Swiss National Bank, left its key interest rate, it’s the three-month Libor unchanged at 0.25%. Meanwhile in the US, initial jobless claims declined at 385,000 for the week ended on 12 March 2011 from 401,000 revised in the last week. Continuing jobless claims fell to 3.706 million for the week ended 5 March 2011 from 3.786 million in the previous week.
In the Asian session, at 4:00GMT, the pair is trading at 0.9066, 0.95% higher from the New York session close.
The pair has its first short term resistance at 0.9118, followed by the next resistance at 0.9170. The first area of support is at 0.8987 levels, with the subsequent support at 0.8908.
Trading trends in the pair today are expected to be determined by data release on producer and import prices in Switzerland.
The currency pair is showing convergence with its 50 Hr moving average and is trading just above its 20 Hr moving average.
