Swiss Franc Extends Its Losses This Morning
GCI Financial | Mar 31, 2015 02:56AM ET
For the 24 hours to 23:00 GMT, the USD rose 0.58% against the CHF and closed at 0.9672.
On the macro front, Switzerland’s KOF economic barometer climbed unexpectedly to 90.80 in March, compared to a revised reading of 90.30 in the previous month. Markets were expecting it to drop to a level of 89.1.
In the Asian session, at GMT0300, the pair is trading at 0.9686, with the USD trading 0.14% higher from yesterday’s close.
The pair is expected to find support at 0.9629, and a fall through could take it to the next support level of 0.9573. The pair is expected to find its first resistance at 0.9717, and a rise through could take it to the next resistance level of 0.9749.
Amid no economic releases in Switzerland today, investors look forward to the release of the nation’s SVME PMI data, scheduled tomorrow.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
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