Swiss Franc Reverses Its Gains In The Asian Session
GCI Financial | May 01, 2015 01:51AM ET
For the 24 hours to 23:00 GMT, the USD declined 0.69% against the CHF and closed at 0.9335.
On the macro front, Switzerland’s KOF economic barometer unexpectedly fell to a level of 89.50 in April. In the prior month, it had recorded a revised level of 90.90.
In the Asian session, at GMT0300, the pair is trading at 0.9341, with the USD trading 0.07% higher from yesterday’s close.
The pair is expected to find support at 0.9283, and a fall through could take it to the next support level of 0.9225. The pair is expected to find its first resistance at 0.9424, and a rise through could take it to the next resistance level of 0.9507.
Amid no economic releases in Switzerland today, market participants look forward to the release of the nation’s CPI data, scheduled next week.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
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