Fundamental Archives |
Written by GCI Financial |
May 14 12 04:46 GMT
USD/CHF: Swiss Franc Trading Lower Ahead Of Producer Price Data In Switzerland
For the 24 hours to 23:00 GMT on Friday, USD rose 0.10% against the CHF and closed at 0.9298, after consumer sentiment in the US unexpectedly improved this month.
Reuters and the University of Michigan reported that the consumer sentiment index in the US rose unexpectedly to a reading of 77.8 in May, marking its highest level since January 2008.
In the Asian session, at GMT0300, the pair is trading at 0.9322, with the USD trading 0.27% higher from Friday’s close.
The pair is expected to find support at 0.9287, and a fall through could take it to the next support level of 0.9252. The pair is expected to find its first resistance at 0.9342, and a rise through could take it to the next resistance level of 0.9361.
The pair is expected to trade on the cues from the release of producer and import prices in Switzerland.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.