USDCHF Movement
For the 24 hours to 23:00 GMT, the USD marginally declined against the CHF and closed at 0.8870.
In the Asian session, at GMT0400, the pair is trading at 0.8867, with the USD trading slightly lower from yesterday’s close.
The pair is expected to find support at 0.8842, and a fall through could take it to the next support level of 0.8817. The pair is expected to find its first resistance at 0.8890, and a rise through could take it to the next resistance level of 0.8913.
The trading trend for the Swiss Franc would be determined by the Swiss National Bank’s quarterly interest rate decision, wherein the central bank is widely expected to keep its commitment to the EUR/CHF peg at 1.20 francs and 3-month libor target rate at its record low of 0.00% -0.25%.
The currency pair is showing convergence with its 20 Hr moving average and is trading just below its 50 Hr moving average.
