Swiss Franc Trading On A Stronger Footing This Morning
GCI Financial | Dec 16, 2014 03:21AM ET
For the 24 hours to 23:00 GMT, the USD rose 0.22% against the CHF and closed at 0.9651. The Swiss Franc came under pressure, after producer and import prices in Switzerland fell more than expected 0.7% on a MoM basis in November, against market expectations for a 0.2% drop. The prices had eased 1.1% in October.
In the Asian session, at GMT0400, the pair is trading at 0.9639, with the USD trading 0.13% lower from yesterday’s close.
The pair is expected to find support at 0.9616, and a fall through could take it to the next support level of 0.9594. The pair is expected to find its first resistance at 0.9668, and a rise through could take it to the next resistance level of 0.9698.
Amid lack of economic data in Switzerland today, investors would monitor the SNB’s Quarterly Bulletin, scheduled for tomorrow.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
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