Swiss Franc Extends Its Losses In The Asian Session
GCI Financial | Aug 29, 2014 02:31AM ET
For the 24 hours to 23:00 GMT, the USD traded tad higher against the CHF and closed at 0.9152.
In economic news, the number of employed people in Switzerland rose to a level of 4.196 million on a quarterly basis in 2Q 2014, compared to a level of 4.192 million in the prior quarter, though markets were expecting it to rise to 4.21 million.
In the Asian session, at GMT0300, the pair is trading at 0.9154, with the USD trading tad higher from yesterday’s close.
The pair is expected to find support at 0.9132, and a fall through could take it to the next support level of 0.911. The pair is expected to find its first resistance at 0.9169, and a rise through could take it to the next resistance level of 0.9184.
Trading trends in the Swiss Franc are expected to be determined by KOF Leading indicator, scheduled in a few hours.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
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