Swiss Franc Trading On A Stronger Footing This Morning
GCI Financial | May 21, 2015 02:53AM ET
For the 24 hours to 23:00 GMT, the USD traded a tad lower against the CHF and closed at 0.9370.
On the macro front, Switzerland’s ZEW economic expectations index climbed to a reading of -0.10 in May. In the prior month, the index had recorded a level of -23.20.
In the Asian session, at GMT0300, the pair is trading at 0.9341, with the USD trading 0.3% lower from yesterday’s close.
The pair is expected to find support at 0.9316, and a fall through could take it to the next support level of 0.9291. The pair is expected to find its first resistance at 0.9387, and a rise through could take it to the next resistance level of 0.9432.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
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