USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.39% against the CHF and closed at 0.8971.
In the Asian session, at GMT0300, the pair is trading at 0.8983, with the USD trading 0.13% higher from yesterday’s close.
Earlier today, a monthly research report from Bloomberg showed that majority of the economists believed that the ECB’s decision to embrace bold easing measures in June would force the SNB to keep its ceiling on Swiss Franc for a longer period of time. The survey also revealed that only six of the 22 economists, interviewed, believed that SNB President, Thomas Jordan would exit its cap on the franc by the end of 2015.
The pair is expected to find support at 0.8959, and a fall through could take it to the next support level of 0.8936. The pair is expected to find its first resistance at 0.9010, and a rise through could take it to the next resistance level of 0.9038.
Traders keenly await Swiss producer and import price data and a report on the SECO economic forecasts, for further cues in the Swiss Franc.
The currency pair is showing convergence with its 20 Hr moving average and is trading just below its 50 Hr moving average.
