USDCHF Movement
For the 24 hours to 23:00 GMT, USD declined 0.47% against the CHF and closed at 0.9031.
Swiss Economy Minister, Johann Schneider-Ammann, stated that he would “generally like” the Franc to weaken toward 1.35 or 1.40 versus the Euro.
Meanwhile, economic releases from the US were disappointing, with Dallas Fed Factory Index declining to a reading of 10.8 in March, while the Pending Home Sales Index easing 0.5% (MoM) to a reading of 96.5 in February.
In the Asian session, at GMT0300, the pair is trading at 0.9039, with the USD trading 0.09% higher from yesterday’s close.
The pair is expected to find support at 0.8996, and a fall through could take it to the next support level of 0.8952. The pair is expected to find its first resistance at 0.9110, and a rise through could take it to the next resistance level of 0.9180.
Trading trends in the pair today are expected to be determined by the release of UBS Consumption Indicator in Switzerland.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
