Swiss Franc Trading Lower Ahead Of Switzerland’s KOF Leading Indicator
GCI Financial | Nov 28, 2014 12:58AM ET
For the 24 hours to 23:00 GMT, the USD rose 0.35% against the CHF and closed at 0.9646. The Swiss Franc came under pressure, after industrial production in Switzerland rose 0.7% on an annual basis in 3Q 2014, down from prior month’s 3.1% rise.
In the Asian session, at GMT0400, the pair is trading at 0.9656, with the USD trading 0.1% higher from yesterday’s close.
The pair is expected to find support at 0.9617, and a fall through could take it to the next support level of 0.9578. The pair is expected to find its first resistance at 0.9677, and a rise through could take it to the next resistance level of 0.9698.
Going ahead, investors await the Swiss KOF leading indicator data for further cues, scheduled in a few hours.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
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