USDCHF Movement
For the 24 hours to 23:00 GMT, USD declined 0.18% against the CHF and closed at 0.9373, amid speculation that the US Federal Reserve might implement a third round of quantitative easing, later today.
According to the latest survey by KOF Swiss Economic Institute, Switzerland’s economy is expected to grow at a slightly slower rate of 0.9% in 2012 than 1.0% forecasted earlier.
In the Asian session, at GMT0300, the pair is trading at 0.9366, with the USD trading 0.07% lower from yesterday’s close.
The pair is expected to find support at 0.9337, and a fall through could take it to the next support level of 0.9308. The pair is expected to find its first resistance at 0.9400, and a rise through could take it to the next resistance level of 0.9434.
In the day ahead, the Swiss National Bank (SNB) is expected to keep interest rate steady at 0.0%.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
