USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose/declined 0.35% against the CHF and closed at 0.9367.
Yesterday, the SNB Chairman, Thomas Jordan, said that he believes that if Greece fails to break the current deadlock with its creditors, it will lead to a surge in the already over-valued Swiss Franc.
In the Asian session, at GMT0300, the pair is trading at 0.9363, with the USD trading a tad lower from yesterday’s close.
The pair is expected to find support at 0.9319, 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 0.9411, and a rise through could take it to the next resistance level of 0.9460.
Moving ahead, market participants would focus on the Switzerland’s KOF leading indicator data, slated to release next week.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
