Swiss Franc Extends Its Losses This Morning
GCI Financial | Jan 28, 2015 02:45AM ET
For the 24 hours to 23:00 GMT, the USD traded a tad higher against the CHF and closed at 0.9023, following stronger than expected consumer confidence data in the US.
Meanwhile, the Swiss Franc lost ground yesterday after the SNB Vice President, Jean-Pierre Danthine stated in an interview that the central bank would intervene again to keep the Swiss Franc weak against the Euro, despite the SNB removing its currency cap recently.
In the Asian session, at GMT0400, the pair is trading at 0.9049, with the USD trading 0.28% higher from yesterday’s close.
The pair is expected to find support at 0.8932, and a fall through could take it to the next support level of 0.8815. The pair is expected to find its first resistance at 0.9168, and a rise through could take it to the next resistance level of 0.9287.
Looking ahead, investors await Switzerland’s UBS consumption indicator data, scheduled in few hours.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
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