Swiss Franc Trading Higher This Morning
GCI Financial | Apr 08, 2015 03:50AM ET
For the 24 hours to 23:00 GMT, the USD rose 0.74% against the CHF and closed at 0.9657.
In economic news, Switzerland’s foreign currency reserves unexpectedly advanced to a level of CHF522.30 billion in March, compared to market expectations of a drop to CHF508.90 billion. In the previous month, it had registered a level of CHF509.20 billion.
In the Asian session, at GMT0300, the pair is trading at 0.9646, with the USD trading 0.11% lower from yesterday’s close.
The pair is expected to find support at 0.9578, and a fall through could take it to the next support level of 0.9509. The pair is expected to find its first resistance at 0.9694, and a rise through could take it to the next resistance level of 0.9742.
Going forward, investors would keep a close eye on Switzerland’s consumer prices data, scheduled in a few hours.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
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