Swiss Franc Trading Lower Ahead Of Switzerland’s Industrial Output Data
GCI Financial | Feb 26, 2015 01:20AM ET
For the 24 hours to 23:00 GMT, the USD declined 0.26% against the CHF and closed at 0.9486, reversing its previous session gains.
In economic news, Switzerland’s UBS consumption indicator dropped to 1.24 in January, compared to a reading of 1.42 recorded in the previous month.
In the Asian session, at GMT0400, the pair is trading at 0.9493, with the USD trading 0.08% higher from yesterday’s close.
The pair is expected to find support at 0.9469, and a fall through could take it to the next support level of 0.9445. The pair is expected to find its first resistance at 0.9513, and a rise through could take it to the next resistance level of 0.9533.
Going forward, investors would closely watch Switzerland’s industrial production data, scheduled in a few hours to get better insights of the nation’s economy.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
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