Swiss Franc Trading Lower, Ahead Of SNB’s Interest Rate Decision
For the 24 hours to 23:00 GMT, the USD declined 0.92% against the CHF and closed at 0.9833.
The Swiss Franc gained ground, after Switzerland’s unemployment rate remained steady at 3.4% in November, meeting market expectations.
In the Asian session, at GMT0400, the pair is trading at 0.9847, with the USD trading 0.14% higher from yesterday’s close.
The pair is expected to find support at 0.9796, and a fall through could take it to the next support level of 0.9746. The pair is expected to find its first resistance at 0.9919, and a rise through could take it to the next resistance level of 0.9991.
Moving ahead, investors will concentrate on SNB’s interest rate decision, scheduled to be announced in a few hours, for further cues.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.