Swiss Franc Trading Flat Ahead Of Switzerland’s SVME PMI Data
GCI Financial | Jul 01, 2015 01:43AM ET
For the 24 hours to 23:00 GMT, the USD rose 1.03% against the CHF and closed at 0.9353.
In economic news, Switzerland’s KOF economic barometer surprisingly eased to a level of 89.70 in June, against market expectations of a rise to a level of 93.70. In the prior month, the economic barometer had recorded a revised reading of 92.70.
In the Asian session, at GMT0300, the pair is trading at 0.9354, with the USD trading flat from yesterday’s close.
The pair is expected to find support at 0.9285, and a fall through could take it to the next support level of 0.9216. The pair is expected to find its first resistance at 0.9402, and a rise through could take it to the next resistance level of 0.9451.
Looking ahead, Switzerland’s SVME PMI data, scheduled in a few hours would be closely watched by market participants.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
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