USDCHF Movement
For the 24 hours to 23:00 GMT, USD rose 1.78% against the CHF and closed at 0.8738, after the Federal Reserve Chairman Ben Bernanke offered no details of any new stimulus measures.
The US Federal Reserve Chairman, Ben Bernanke, indicated that the central bank would consider additional stimulus at its September monetary policy meeting. He also added that the Fed would do all it can to restore high rates of growth and employment.
In Switzerland, on a seasonally adjusted basis, the unemployment rate was unchanged at 3.0% in August.
In the Asian session, at 3:00GMT, the USD is trading at 0.8716, 0.25% lower versus Swiss Franc, from yesterday’s close at 23:00 GMT.
The pair has its first short term resistance at 0.8799, followed by the next resistance at 0.8882. The first area of support is at 0.8605 level, with the subsequent support at 0.8494.
The currency pair is showing convergence with its 20 Hr moving average and is trading just above its 50 Hr moving average.
