Switzerland’s ZEW Economic Expectations Index Advanced To Its Highest
GCI Financial | Feb 23, 2017 02:01AM ET
For the 24 hours to 23:00 GMT, the USD marginally rose against the CHF and closed at 1.0102.
In economic news, data indicated that Switzerland’s ZEW economic expectations index registered a rise to a level of 19.4 in February, advancing for the sixth consecutive month and marking its highest level since June 2016, compared to a level of 18.5 in the prior month.
In the Asian session, at GMT0400, the pair is trading at 1.0096, with the USD trading 0.06% lower against the CHF from yesterday’s close.
The pair is expected to find support at 1.0069, and a fall through could take it to the next support level of 1.0041. The pair is expected to find its first resistance at 1.0132, and a rise through could take it to the next resistance level of 1.0167.
Market participants will look forward to the release of Switzerland’s industrial production data for 4Q 2016, scheduled to release later today.
The currency pair is trading below its 20 Hr moving average and showing convergence with its 50 Hr moving average.
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