Swiss Franc Trading Tad Lower In The Morning Session
GCI Financial | Oct 30, 2015 02:56AM ET
For the 24 hours to 23:00 GMT, the USD declined 0.42% against the CHF and closed at 0.9896, following the release of soft US 3Q GDP data.
In the Asian session, at GMT0400, the pair is trading at 0.9901, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 0.9872, and a fall through could take it to the next support level of 0.9843. The pair is expected to find its first resistance at 0.9939, and a rise through could take it to the next resistance level of 0.9977.
Moving ahead, investors will look forward to Switzerland’s KOF leading indicator data for October, scheduled to be released in a few hours.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
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