USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 2.73% against the CHF and closed at 0.9474, after the Fed Chief, Ben Bernanke emphasized the Fed’s accommodative policy stance and indicated that the central bank would not be in a hurry to hike rates after the unemployment rate hits the Fed’s policy target.
In the Asian session, at GMT0300, the pair is trading at 0.9433, with the USD trading 0.43% lower from yesterday’s close.
The pair is expected to find support at 0.9313, 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 0.9646, and a rise through could take it to the next resistance level of 0.9858.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
