USDCHF Movement
For the 24 hours to 23:00 GMT, USD declined 0.33% against the CHF and closed at 0.8980.
In the Asian session, at 3:00GMT, the USD is trading at 0.9000, 0.22% higher versus Swiss Franc, from yesterday’s close at 23:00 GMT.
Yesterday, the Swiss National Bank President, Philipp Hildebrand, stated that the bank would do everything to defend the Franc from rising against the euro to reduce the risk of the Swiss economy falling into recession.
The pair has its first short term resistance at 0.9031, followed by the next resistance at 0.9062. The first area of support is at 0.8944 level, with the subsequent support at 0.8888.
Trading trends in the pair today are expected to be determined by release of KOF leading indicator in Switzerland.
The currency pair is trading just above its 20 Hr and 50 Hr moving averages.
