USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.90% against the CHF and closed at 0.9225.
Yesterday, the Swiss National Bank’s Vice President, Jean-Pierre Danthine, stated that the rise in property prices and increased leverage have put the Swiss economy into a state of high vulnerability.
Meanwhile on economic front, Switzerland’s producer and import price index fell 0.3% annually in March, in line with market expectations and compared to a 0.1% rise recorded in the previous month.
In the Asian session, at GMT0300, the pair is trading at 0.9232, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 0.9183, and a fall through could take it to the next support level of 0.9134. The pair is expected to find its first resistance at 0.9305, and a rise through could take it to the next resistance level of 0.9378.
Switzerland’s ZEW expectations survey, due later today, is forecast to show some marked improvement in April.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
