Swiss Franc Converging With Its MA’s
GCI Financial | May 15, 2014 02:51AM ET
For the 24 hours to 23:00 GMT, the USD declined marginally against the CHF and closed at 0.8897.
In economic news, the ZEW survey on the economic expectations for the Swiss economy gained by 0.4 points to reach a level of 7.4 points in May, less than market expectations for a rise to a reading of 10.0.
In the Asian session, at GMT0300, the pair is trading at 0.8894, with the USD trading a tad lower from yesterday’s close.
The pair is expected to find support at 0.8882, and a fall through could take it to the next support level of 0.887. The pair is expected to find its first resistance at 0.8906, and a rise through could take it to the next resistance level of 0.8918.
Traders are expected to keep a tab on the release of the Swiss producer and import prices data, for further cues in the Swiss Franc
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