Swiss Franc Trading Lower Ahead Of Swiss Q3 Employment Level Data
GCI Financial | Nov 24, 2014 01:32AM ET
On Friday, the USD rose 1.21% against the CHF and closed at 0.9701.
In economic news, Switzerland’s M3 money supply advanced 3.4% on an annual basis in October, following a similar rise recorded in September.
In the Asian session, at GMT0400, the pair is trading at 0.9704, with the USD trading a tad higher from Friday’s close.
The pair is expected to find support at 0.9604, and a fall through could take it to the next support level of 0.9504. The pair is expected to find its first resistance at 0.9766, and a rise through could take it to the next resistance level of 0.9829.
Going forward, investor sentiment would be governed by Switzerland’s quarterly employment level data, scheduled in a few hours.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
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