USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.44% against the CHF and closed at 0.8762.
In the Asian session, at GMT0300, the pair is trading at 0.8763, with the USD trading slightly higher from yesterday’s close.
Early morning, a monthly survey published by Bloomberg, showed that economists projected the Swiss National Bank (SNB) to defend its cap on the Swiss Franc for at least another year.
The pair is expected to find support at 0.8740, and a fall through could take it to the next support level of 0.8717. The pair is expected to find its first resistance at 0.8797, and a rise through could take it to the next resistance level of 0.8831.
With no major economic releases from Switzerland later today, traders are expected to keep a tab on global economic news, including the US consumer sentiment data, for further cues in the currency pair.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
