Swiss Franc Trading On A Weaker Footing This Morning
GCI Financial | Apr 23, 2015 02:26AM ET
For the 24 hours to 23:00 GMT, the USD rose 1.51% against the CHF and closed at 0.9699, following stronger than expected existing home sales data in the US.
In economic news, Switzerland’s ZEW economic expectations index improved to -23.20 in April, compared to a level of -37.90 in the previous month.
In the Asian session, at GMT0300, the pair is trading at 0.9711, with the USD trading 0.12% higher from yesterday’s close.
The pair is expected to find support at 0.9567, and a fall through could take it to the next support level of 0.9424. The pair is expected to find its first resistance at 0.9787, and a rise through could take it to the next resistance level of 0.9864.
Looking ahead, market participants await the release of Switzerland’s trade balance data, scheduled in a few hours.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
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