Swiss Franc Trading On A Weaker Footing, Ahead Of Switzerland’s Q3 Data
GCI Financial | Nov 26, 2015 02:20AM ET
For the 24 hours to 23:00 GMT, the USD rose 0.49% against the CHF and closed at 1.0218.
In economic news, Switzerland’s UBS consumption indicator advanced to a level of 1.6 in October, compared to a revised reading of 1.56 in the previous month.
In the Asian session, at GMT0400, the pair is trading at 1.0224, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 1.0158, and a fall through could take it to the next support level of 1.0092. The pair is expected to find its first resistance at 1.0276, and a rise through could take it to the next resistance level of 1.0328.
Moving ahead, investors will keep an eye on Switzerland’s Q3 industrial production data, scheduled to be released in a few hours, to gauge the strength in the nation’s economy.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
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