HomeContributorsFundamental AnalysisSwiss Franc Trading On A Weaker Footing This Morning

Swiss Franc Trading On A Weaker Footing This Morning

For the 24 hours to 23:00 GMT, the USD declined 0.26% against the CHF and closed at 0.9613 on Friday.

In the Asian session, at GMT0300, the pair is trading at 0.9637, with the USD trading 0.25% higher against the CHF from Friday’s close.

The pair is expected to find support at 0.9598, and a fall through could take it to the next support level of 0.9558. The pair is expected to find its first resistance at 0.9668, and a rise through could take it to the next resistance level of 0.9698.

Moving forward, investors would keep a close watch on Switzerland’s SVME – Purchasing Managers’ Index (PMI) for April, slated to release in a few hours.

The currency pair is trading between its 20 Hr and 50 Hr moving averages.

GCI Financial
GCI Financialhttp://www.gcitrading.com/
DISCLAIMER : GCI's Daily Market Commentary is provided for informational purposes only. The information contained in these reports is gathered from reputable news sources and is not intended to be used as investment advice. GCI assumes no responsibility or liability from gains or losses incurred by the information herein contained.

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