USDCHF Movement
For the 24 hours to 23:00 GMT, USD rose 0.43% against the CHF and closed at 0.9285, amid comments from Fed officials which indicated no need for new easing.
Federal Reserve Bank (Fed) of Minneapolis, President Narayana Kocherlakota stated that the central bank may need to cut stimulus in 6-9 months and Cleveland Fed President, Sandra Pianalto stated that she expects the economy to recover at 2.5% or better.
In the Asian session, at GMT0300, the pair is trading at 0.9285, with the USD trading flat from yesterday’s close.
The pair is expected to find support at 0.9250, and a fall through could take it to the next support level of 0.9215. The pair is expected to find its first resistance at 0.9311, and a rise through could take it to the next resistance level of 0.9337
With no major release from Switzerland, the pair is expected to trade on trends in the greenback.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
