USDCHF Movement
For the 24 hours to 23:00 GMT, the USD fell marginally against the CHF and closed at 0.9324.
The Swiss National Bank (SNB) official, Fritz Zurbruegg commented that, the currency is still overvalued and that would bear severe consequences for the economy. He further confirmed the central bank’s commitment to defend the determined 1.20 per Euro cap.
In the Asian session, at GMT0300, the pair is trading at 0.9315, with the USD trading 0.10% lower from yesterday’s close.
The pair is expected to find support at 0.9290, and a fall through could take it to the next support level of 0.9266. The pair is expected to find its first resistance at 0.9336, and a rise through could take it to the next resistance level of 0.9358.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
