USDCHF Movement
For the 24 hours to 23:00 GMT, the USD marginally rose against the CHF and closed at 0.9103.
In economic news, the Swiss National Bank (SNB), in its quarterly bulletin, reaffirmed its decision to maintain a minimum exchange rate of CHF1.20 per Euro and reiterated its stance that the value of the Swiss Franc remains high.
The SNB also indicated that the global growth is likely to continue gaining momentum in the coming quarters.
In the Asian session, at GMT0300, the pair is trading at 0.9101, with the USD trading tad lower from yesterday’s close.
The pair is expected to find support at 0.9086, and a fall through could take it to the next support level of 0.9071. The pair is expected to find its first resistance at 0.9117, and a rise through could take it to the next resistance level of 0.9133.
Investors are awaiting the release of Switzerland’s KOF leading indicator, which analysts’ expects to register a reading of 1.47 in the month of September, compared to a figure of 1.36 recorded in the previous month.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
