Swiss Franc Trading Tad Lower Ahead Of Switzerland’s Jobless Rate Data
GCI Financial | Nov 10, 2015 02:23AM ET
For the 24 hours to 23:00 GMT, the USD declined 0.24% against the CHF and closed at 1.0034.
In economic news, Switzerland’s total sight deposits fell marginally to CHF467.2 billion in the week ended 06 November, from CHF467.4 billion in the previous week.
In the Asian session, at GMT0400, the pair is trading at 1.0043, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 1.0006, and a fall through could take it to the next support level of 0.9969. The pair is expected to find its first resistance at 1.0072, and a rise through could take it to the next resistance level of 1.0101.
Moving ahead, investors will closely watch Switzerland’s unemployment rate data for October, scheduled to be released in a few hours.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
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