Swiss Franc Reverses Its Gains In The Asian Session
GCI Financial | Sep 04, 2014 01:33AM ET
For the 24 hours to 23:00 GMT, the USD declined 0.16% against the CHF and closed at 0.9176.
In the Asian session, at GMT0300, the pair is trading at 0.9178, with the USD trading tad higher from yesterday’s close.
The pair is expected to find support at 0.9167, and a fall through could take it to the next support level of 0.9157. The pair is expected to find its first resistance at 0.9195, and a rise through could take it to the next resistance level of 0.9213.
Amid lack of economic releases from Switzerland today, market participants would await Q2 Swiss industrial production, slated to release tomorrow.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
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