Swiss Franc Trading Lower In The Asian Session
GCI Financial | Nov 17, 2014 01:09AM ET
On Friday, the USD declined 0.48% against the CHF and closed at 0.9591.
In the Asian session, at GMT0400, the pair is trading at 0.9569, with the USD trading 0.23% lower from Friday’s close.
Over the weekend, the SNB Chairman, Thomas Jordan dismissed speculations about creating a sovereign wealth fund to manage Switzerland’s gold reserves if the Swiss gold referendum is passed on November 30.
The pair is expected to find support at 0.9518, and a fall through could take it to the next support level of 0.9467. The pair is expected to find its first resistance at 0.9655, and a rise through could take it to the next resistance level of 0.9741.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
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