USDCHF Movement

For the 24 hours to 23:00 GMT, USD declined 0.50% against the CHF and closed at 0.9511.

The Swiss Franc rose after Swiss National Bank (SNB) kept its benchmark interest rate unchanged in the range of 0.0%-0.25%, in line with expectations.

The Franc received further support after bank reiterated its cap at 1.20 Franc/€, citing it was prepared to buy “unlimited amount” to defend that level.

In the Asian session, at GMT0300, the pair is trading at 0.9510, with the USD trading marginally lower from yesterday’s close.

The pair is expected to find support at 0.9485, and a fall through could take it to the next support level of 0.9460. The pair is expected to find its first resistance at 0.9555, and a rise through could take it to the next resistance level of 0.9599.

With no major release from Switzerland, the pair is expected to trade on trends in the greenback.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.