In the most recent European session, the Swiss franc rose against most major currencies.
At last week's close, the franc was at 0.9041 against the U.S. dollar and 112.54 against the yen. However, on Monday the currency was up 112.67 against the yen and was at 0.9038 against the U.S. dollar, distancing itself from early lows of 0.9050 and 112.42, reports RTT News.
The greenback and franc are currently showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving averages. If a fall through occurred, it could take the pair to the next support level of 0.9002, according to Investing.com.
Against the pound, the franc rose to 1.5345, moving away from its 4-day low of 1.5370. According to RTT News, the two were quoted at 1.5353 at yesterday's close.
In terms of economic data from Switzerland, investors have seen a quiet week. Market participants are expected to await UBS Consumption and KOF Leading Indicators, which is scheduled on Wednesday, reports the Business Insider.
If the franc extends its gain, it is likely to find resistance around 1.52 against the pound, 0.89 against the U.S. dollar and 113.19 against the yen.
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