USDCHF Movement
On Friday, the USD declined 0.19% against the CHF and closed at 0.8877.
In Switzerland, a member of the Swiss National Bank (SNB) Governing Board, Fritz Zurbruegg, opined that the central bank still needs to maintain its 1.20 Swiss Franc-per-Euro floor as the Swiss Franc continues to remain strong.
In the Asian session, at GMT0400, the pair is trading at 0.8875, with the USD trading tad lower from Friday’s close.
The pair is expected to find support at 0.8858, and a fall through could take it to the next support level of 0.8840. The pair is expected to find its first resistance at 0.8903, and a rise through could take it to the next resistance level of 0.8930.
With no major economic releases from Switzerland, traders would eye global economic news for further cues in the pair.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
