USDCHF Movement
On Friday, the USD declined 0.86% against the CHF and closed at 0.9416.
A private survey in Switzerland revealed that the SNB would cut its key interest rate again if the Swiss economy weakened, following its shock decision to remove the Franc ceiling in January.
In the Asian session, at GMT0400, the pair is trading at 0.9434, with the USD trading 0.19% higher from Friday’s close.
The pair is expected to find support at 0.9359, and a fall through could take it to the next support level of 0.9285. The pair is expected to find its first resistance at 0.9523, and a rise through could take it to the next resistance level of 0.9612.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
