Swiss Franc Reverses Its Losses In The Asian Session
GCI Financial | Jul 02, 2015 01:11AM ET
For the 24 hours to 23:00 GMT, the USD rose 1.42% against the CHF and closed at 0.9486.
In economic news, Switzerland’s SVME PMI advanced more than expected to a level of 50.0 in June and entered in to expansion territory in May. The index had registered a reading of 49.4 in the preceding month.
In the Asian session, at GMT0300, the pair is trading at 0.9466, with the USD trading 0.21% lower from yesterday’s close.
The pair is expected to find support at 0.9375, and a fall through could take it to the next support level of 0.9284. The pair is expected to find its first resistance at 0.9524, and a rise through could take it to the next resistance level of 0.9583.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
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