Swiss Franc Trading Slightly Lower In The Asian Session
GCI Financial | Aug 14, 2015 03:47AM ET
For the 24 hours to 23:00 GMT, the USD rose/declined 0.14% against the CHF and closed at 0.9766. The producer and import price index in July fell 0.30% MoM in Switzerland, more than expectations for a 0.20% drop. The index had dropped of 0.10% in the last month.
In the Asian session, at GMT0300, the pair is trading at 0.9767, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 0.9737, and a fall through could take it to the next support level of 0.9707. The pair is expected to find its first resistance at 0.9797, and a rise through could take it to the next resistance level of 0.9827.
In the coming week, market players would look forward to the release of Switzerland’s real retail sales and trade balance data.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
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