USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.23% against the CHF and closed at 0.9337, after the White House and House of Representatives Speaker, John Boehner’s office held more negotiations on Monday on ways to break the budget stalemate, but neither side showed any signs that they were ready to give ground.
In the Asian session, at GMT0400, the pair is trading at 0.9331, with the USD trading 0.07% lower from yesterday’s close, amid speculation that the Federal Reserve would expand monetary stimulus at a two-day meeting starting today.
The pair is expected to find support at 0.9313, and a fall through could take it to the next support level of 0.9295. The pair is expected to find its first resistance at 0.9360, and a rise through could take it to the next resistance level of 0.9388.
With no significant macro triggers on tap today in Switzerland, the pair is expected to trade on trends in the greenback.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
