Swiss Franc Converging With Both Its MA’s
GCI Financial | Jul 21, 2014 02:39AM ET
On Friday, the USD rose 0.06% against the CHF and closed at 0.8981.
In the Asian session, at GMT0300, the pair is trading at 0.8981, with the USD trading flat from Friday’s close.
The pair is expected to find support at 0.8965, and a fall through could take it to the next support level of 0.8949. The pair is expected to find its first resistance at 0.9001, and a rise through could take it to the next resistance level of 0.9021.
Investors would pay attention to M3 money supply data for June from Switzerland, slated to be release later during the day.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
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