USDCHF Movement
For the 24 hours to 23:00 GMT, USD rose 0.67% against the CHF and closed at 0.9537.
Meanwhile, Minneapolis Federal Reserve Bank (Fed) President, Narayana Kocherlakota, reiterated his recent comments that the US was closer to full employment than jobless figures suggest because of structural factors. He indicated that the Fed likely cannot mend all the damage done to the US job market due to the credit crisis.
In the Asian session, at GMT0300, the pair is trading at 0.9549, with the USD trading 0.13% higher from yesterday’s close.
The pair is expected to find support at 0.9486, and a fall through could take it to the next support level of 0.9423. The pair is expected to find its first resistance at 0.9592, and a rise through could take it to the next resistance level of 0.9636.
Trading trends in the pair today are expected to be determined by the release of trade balance data in the Switzerland.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
