Swiss Franc Trading On A Stronger Footing This Morning
GCI Financial | Oct 02, 2014 02:56AM ET
For the 24 hours to 23:00 GMT, the USD rose 0.16% against the CHF and closed at 0.9564. The Swiss Franc lost ground, after the Swiss PMI edged down to 50.4 in September, compared to previous month’s level of 52.9, and against market expectations for a drop to 52.0.
In the Asian session, at GMT0300, the pair is trading at 0.9547, with the USD trading 0.18% lower from yesterday’s close.
The pair is expected to find support at 0.9528, 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 0.9582, and a rise through could take it to the next resistance level of 0.9617.
Amid no economic news from Switzerland today, investor sentiments would be governed by global macroeconomic news.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
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