USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.16% against the CHF and closed at 0.8864.
Yesterday, a Swiss National Bank (SNB) Board member, Fritz Zurbruegg, indicated that the central bank is prepared to use a variety of measures, including negative interest rates, to defend its cap on the Swiss franc.
In the Asian session, at GMT0400, the pair is trading at 0.8868, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 0.8848, and a fall through could take it to the next support level of 0.8827. The pair is expected to find its first resistance at 0.8882, and a rise through could take it to the next resistance level of 0.8895.
Market participants are expected to keep a tab on the KOF institute spring economic forecast, slated for release later today.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
