USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.44% against the CHF and closed at 0.9052.
Yesterday, the Swiss National Bank (SNB) President, Thomas Jordan opined that the cap on the Swiss Franc is set to continue in the foreseeable future citing the low levels of inflation in the nation. He further added that the central bank has no plans to enhance its communication toolkit by releasing minutes or introducing forward guidance, as they may not be all positive as “sometimes transparency can be counterproductive.”
In the Asian session, at GMT0400, the pair is trading at 0.9053, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 0.9026, and a fall through could take it to the next support level of 0.8998. The pair is expected to find its first resistance at 0.9087, and a rise through could take it to the next resistance level of 0.9120.
Trading trends in the pair today are expected to be determined by the producer and import prices data to be released from Switzerland.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
