Swiss Franc Continues Its Losses This Morning, Ahead Of SVME PMI Numbers
GCI Financial | Sep 01, 2014 02:02AM ET
On Friday, the USD rose 0.32% against the CHF and closed at 0.9181.
In economic news, the Swiss KOF economic indicator rebounded unexpectedly in August to a level of 99.5, compared to a level of 97.9 in the previous month. Market participants were anticipating the KOF indicator to drop to 97.8.
In the Asian session, at GMT0300, the pair is trading at 0.9193, with the USD trading 0.13% higher from Friday’s close.
The pair is expected to find support at 0.9155, and a fall through could take it to the next support level of 0.9117. The pair is expected to find its first resistance at 0.9214, and a rise through could take it to the next resistance level of 0.9235.
Trading trends in the Swiss Franc today are expected to be determined by the Swiss SVME- PMI, set for release in a few hours.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
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