Swiss Franc Converging With Its MA’s
GCI Financial | Aug 01, 2014 02:47AM ET
For the 24 hours to 23:00 GMT, the USD marginally declined against the CHF and closed at 0.9088.
The Swiss Franc gained ground despite Moody’s slashing its outlook for Swiss banking system to ‘Negative’ from ‘Stable’.
In the Asian session, at GMT0300, the pair is trading at 0.909, with the USD trading 0.02% higher from yesterday’s close.
The pair is expected to find support at 0.9075, and a fall through could take it to the next support level of 0.9061. The pair is expected to find its first resistance at 0.9104, and a rise through could take it to the next resistance level of 0.9119.
On account of national holiday, investors would shift their attention to the Swiss SVME – Purchasing Managers’ Index, slated to release on Monday.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
For the 24 hours to 23:00 GMT, the USD marginally declined against the CHF and closed at 0.9088.
The Swiss Franc gained ground despite Moody’s slashing its outlook for Swiss banking system to ‘Negative’ from ‘Stable’.
In the Asian session, at GMT0300, the pair is trading at 0.909, with the USD trading 0.02% higher from yesterday’s close.
The pair is expected to find support at 0.9075, and a fall through could take it to the next support level of 0.9061. The pair is expected to find its first resistance at 0.9104, and a rise through could take it to the next resistance level of 0.9119.
On account of national holiday, investors would shift their attention to the Swiss SVME – Purchasing Managers’ Index, slated to release on Monday.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
- See more at: http://forexnews.gcitrading.com/currencies/USDCHF/USDCHF-swiss-franc-converging-with-its-mas-5.htm#sthash.xiKtwXJW.dpuf
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