USDCHF Movement
For the 24 hours to 23:00 GMT, USD declined 0.83% against the CHF and closed at 0.9116.
On the economic front, Switzerland’s foreign exchange reserves declined to CHF227.21 billion in January, from CHF254.25 billion recorded in December.
The interim Central Bank President, Thomas Jordan stated that the Swiss National Bank stands ready to take further measures if the economic outlook and the risk of deflation so require.
In the Asian session, at GMT0400, the pair is trading at 0.9130, with the USD trading 0.15% higher from yesterday’s close.
The pair is expected to find support at 0.9084, and a fall through could take it to the next support level of 0.9038. The pair is expected to find its first resistance at 0.9202, and a rise through could take it to the next resistance level of 0.9273.
Swissy is likely to receive increased market attention, with unemployment data due to be released later today in Switzerland.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
