USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 2.31% against the CHF and closed at 0.9827, after the US Fed ruled out an interest rate hike at the April FOMC meeting.
The Swiss Franc traded higher, after Switzerland’s ZEW economic expectations index climbed to -37.90 in March. In the previous month, the index had recorded a reading of -73.00.
In the Asian session, at GMT0400, the pair is trading at 0.9913, with the USD trading 0.88% higher from yesterday’s close.
The pair is expected to find support at 0.9671, and a fall through could take it to the next support level of 0.9428. The pair is expected to find its first resistance at 1.0113, and a rise through could take it to the next resistance level of 1.0313.
Going forward, the SNB’s interest rate decision on sight deposits, scheduled in few hours.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
