USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.08% against the CHF and closed at 0.8935.
Yesterday, the SNB Chief, Thomas Jordan, through an article in the Global Public Investor 2014 report, indicated that the Swiss Franc still remains high at current levels and as a result the central bank’s decision of “maintaining the minimum exchange rate remains the right measure to ensure appropriate monetary conditions in Switzerland.”
In the Asian session, at GMT0300, the pair is trading at 0.8927, with the USD trading 0.09% lower from yesterday’s close.
The pair is expected to find support at 0.8912, and a fall through could take it to the next support level of 0.8896. The pair is expected to find its first resistance at 0.8951, and a rise through could take it to the next resistance level of 0.8974.
During the later course of the day, traders would eye the release of the Swiss KOF leading indicator, which would provide an insight into the future trends of the overall economic activity.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
