USDCHF Movement
For the 24 hours to 23:00 GMT, USD rose 1.36% against the CHF and closed at 0.7948.
Expectations that Switzerland authorities would resort to dramatic measures to weaken its currency sent the franc sharply lower Tuesday.
However, mounting fears of a worldwide recession, a wrenching debt crisis in Europe and the US’s economic and fiscal concerns, capped greenback’s gain against Swiss Franc.
In the Asian session, at 3:00GMT, the pair is trading at 0.7938, 0.13% lower from yesterday’s close at 23:00 GMT.
The pair has its first short term resistance at 0.8022, followed by the next resistance at 0.8106. The first area of support is at 0.7810 level, with the subsequent support at 0.7682.
The currency pair is trading just above with its 20 Hr and its 50 Hr moving averages.
