USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.13% against the CHF and closed at 0.9388. The Swiss franc followed the Euro down against the greenback yesterday on concern about Spain’s need for a bailout.
In the US, the Mortgage Bankers Association reported its seasonally adjusted index of mortgage application activity rose 2.8% in the week ended September 21, compared to a 0.2% fall in its previous week. Meanwhile, the US Chicago Federal Reserve Bank President, Charles Evans, stated that the US Federal Reserve would easily be able to tighten policy appropriately when needed.
In the Asian session, at GMT0300, the pair is trading at 0.9389, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 0.9370, and a fall through could take it to the next support level of 0.9351. The pair is expected to find its first resistance at 0.9413, and a rise through could take it to the next resistance level of 0.9437.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
