USDCHF Movement
For the 24 hours to 23:00 GMT, USD rose 0.45% against the CHF and closed at 0.9244.
The International Monetary Fund (IMF) has stated that the Swiss National Bank’s decision to cap the strong currency is appropriate due to slow growth and deflation risks.
In the Asian session, at GMT0300, the pair is trading at 0.9260, with the USD trading 0.16% higher from yesterday’s close.
The pair is expected to find support at 0.9226, and a fall through could take it to the next support level of 0.9192. The pair is expected to find its first resistance at 0.9278, and a rise through could take it to the next resistance level of 0.9296.
With no major release from Switzerland, the pair is expected to trade on trends in the greenback.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
