USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.46% against the CHF and closed at 0.9915.
Yesterday, the Swiss National Bank (SNB), at its March monetary policy meeting, held its benchmark interest rate unchanged at -0.75%, as widely expected. In its policy statement, the central bank pointed to loose policy over longer term. Meanwhile, the SNB lowered its medium-term forecast for Swiss inflation.
On the macro front, Switzerland’s trade surplus widened to a level of CHF2.76 billion in May. The nation had posted a revised surplus of CHF2.25 billion in the prior month.
In the Asian session, at GMT0300, the pair is trading at 0.9912, with the USD trading a tad lower against the CHF from yesterday’s close.
The pair is expected to find support at 0.9877, and a fall through could take it to the next support level of 0.9843. The pair is expected to find its first resistance at 0.9966, and a rise through could take it to the next resistance level of 1.0021.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
