Swiss Franc Trading On A Weaker Footing This Morning
GCI Financial | Jul 08, 2015 05:00AM ET
For the 24 hours to 23:00 GMT, the USD rose 0.45% against the CHF and closed at 0.9468.
On the macro front, the seasonally adjusted unemployment rate in Switzerland remained unchanged at 3.3% in June, at par with market expectations.
Other economic data indicated that the nation’s foreign exchange reserves narrowed for the third successive month to CHF516.2 billion in June, from prior month’s reserves of CHF517.5 billion.
In the Asian session, at GMT0300, the pair is trading at 0.9472, with the USD trading slightly higher from yesterday’s close.
The pair is expected to find support at 0.9428, and a fall through could take it to the next support level of 0.9384. The pair is expected to find its first resistance at 0.9517, and a rise through could take it to the next resistance level of 0.9561.
With no economic data in Switzerland today, investor sentiment would be governed by global macroeconomic news.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
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