USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.13% against the CHF and closed at 0.9339.
Yesterday, the Swiss National Bank (SNB) board member, Fritz Zurbruegg, stated that the Franc still remains high and the central bank would continue with the 1.20 per Euro cap as long as it is necessary.
In economic news, Swiss producer and import prices advanced 0.5% (YoY) in July, after rising 0.2% in June. Market had expected producer and import prices to rise 0.4%. Additionally, ZEW economic expectations index in Switzerland rose to a reading of 7.2 in August from a reading of 4.8 in July.
In the Asian session, at GMT0300, the pair is trading at 0.9327, with the USD trading 0.13% lower from yesterday’s close.
The pair is expected to find support at 0.9301, and a fall through could take it to the next support level of 0.9276. The pair is expected to find its first resistance at 0.9365, and a rise through could take it to the next resistance level of 0.9404.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
