Swiss Franc Trading On A Weaker Footing This Morning
GCI Financial | Jan 22, 2015 01:51AM ET
For the 24 hours to 23:00 GMT, the USD declined 1.36% against the CHF and closed at 0.8615. In economic news, Switzerland’s ZEW economic expectation index weakened to -10.8 in January, compared to a reading of -4.9 recorded in the prior month. Meanwhile, the nation’s M3 money supply climbed 3.3% on a YoY basis in December. In the previous month, M3 money supply had risen 3.6%.
In the Asian session, at GMT0400, the pair is trading at 0.8629, with the USD trading 0.21% higher from yesterday’s close.
The pair is expected to find support at 0.8495, and a fall through could take it to the next support level of 0.8361. The pair is expected to find its first resistance at 0.8768, and a rise through could take it to the next resistance level of 0.8908.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
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