Swiss Franc Trading Tad Higher Ahead Of SNB Monthly Statistical Bulletin
GCI Financial | Feb 21, 2014 01:59AM ET
For the 24 hours to 23:00 GMT, the USD marginally rose against the CHF and closed at 0.8894.
In economic news, a report showed that Switzerland’s trade surplus widened more-than-expected to CHF2.59 billion in January, compared to a surplus of CHF0.52 billion registered in the previous month. The report also showed a rise in the Swiss exports and declined in the nation’s import.
In the Asian session, at GMT0400, the pair is trading at 0.8891, with the USD trading slightly lower from yesterday’s close.
The pair is expected to find support at 0.8861, and a fall through could take it to the next support level of 0.8830. The pair is expected to find its first resistance at 0.8919, and a rise through could take it to the next resistance level of 0.8946.
Later during the day, the Swiss National Bank is expected to release its monthly statistical bulletin, which would provide an insight into the economic condition of Switzerland.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
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