Swiss Franc Reverses Its Losses In The Asian Session
GCI Financial | Sep 16, 2014 02:08AM ET
For the 24 hours to 23:00 GMT, the USD rose 0.21% against the CHF and closed at 0.9356.
In economic news, the producer and import price index in Switzerland unexpectedly dropped 0.2%, on a monthly basis, in August, against market expectations to record a flat reading and compared to a similar reading registered in July.
In the Asian session, at GMT0300, the pair is trading at 0.9347, with the USD trading 0.1% lower from yesterday’s close.
The pair is expected to find support at 0.9327, and a fall through could take it to the next support level of 0.9308. The pair is expected to find its first resistance at 0.937, and a rise through could take it to the next resistance level of 0.9394.
Amid lack of economic releases from Switzerland today, trading trends in the Swiss Franc would depend upon news across various economies.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
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