USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.29% against the CHF and closed at 0.9129. However, the losses in the greenback were trimmed after two eminent Fed policymakers expressed optimism on the recovery of the US economy and hinted for a slowdown in the pace of the central bank’s stimulus measures in the near future.
In the Asian session, at GMT0400, the pair is trading at 0.9126, with the USD trading marginally lower from yesterday’s close.
The pair is expected to find support at 0.9096, and a fall through could take it to the next support level of 0.9066. The pair is expected to find its first resistance at 0.9155, and a rise through could take it to the next resistance level of 0.9184.
Amid lack of economic releases from Switzerland, traders are expected to keep a tab on global economic news for further guidance in the pair.
The currency pair is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
