USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.36% against the CHF and closed at 0.9667.
Yesterday, the Swiss National Bank (SNB) kept the key interest rate unchanged at -0.75%. Additionally, the central bank reiterated its commitment to “intervene in the foreign exchange market as necessary”.
In the Asian session, at GMT0300, the pair is trading at 0.9633, with the USD trading 0.35% lower against the CHF from yesterday’s close.
The pair is expected to find support at 0.9605, and a fall through could take it to the next support level of 0.9577. The pair is expected to find its first resistance at 0.9675, and a rise through could take it to the next resistance level of 0.9717.
Moving ahead, traders will focus on Switzerland’s SECO economic forecasts report and the nation’s trade balance data, both set to release next week.
The currency pair is trading below its 20 Hr moving average and showing convergence with its 50 Hr moving average.
