USDCHF Movement
For the 24 hours to 23:00 GMT, USD declined 0.18% against the CHF and closed at 0.9036.
The SNB Chairman Philipp Hildebrand stated that, demand for Switzerland’s exports remains “remarkably resilient” but stronger Franc may lead to a slowdown in export growth.
The Switzerland’s Federal Statistics Office reported that, the trade balance widened to CHF2.49 billion in February, up from CHF2.04 billion in January.
In the Asian session, at 4:00GMT, the pair is trading at 0.9035, 0.01% lower from the New York session close.
The pair has its first short term resistance at 0.9057, followed by the next resistance at 0.9078. The first area of support is at 0.9011 levels, with the subsequent support at 0.8986.
With no major release from Switzerland, the pair is expected to trade on trends in the greenback.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
