During Friday’s trading session CAD/CHF traded within the range of 0.8230-0.8292 and closed at 0.8255.
At 6:40 GMT today CAD/CHF was losing 0.04% for the day to trade at 0.8252. The pair touched a daily low at 0.8250 at 5:45 GMT.
Fundamental view
The SVME Purchasing Managers’ Index in Switzerland probably remained unchanged at 55.8 in May from a month ago, according to the median estimate by experts.
The SVME (Schweizerischer Verband für Materialwirtschaft und Einkauf) Purchasing Managers’ Index is an indicator that reflects the economic activity. It measures the activity level of managers in terms of production, employment, inventories, orders and deliveries. PMI includes data from manufacturing, services and construction. Values above 50 indicate growth. The study is carried out by SVME in association with Credit Suisse.
The SVME is expected to release official data at 7:30 GMT. In case, the index improves more than expected, this will support demand for the Swiss franc.
Technical view
According to Binary Tribune’s daily analysis, in case CAD/CHF manages to breach the first resistance level at 0.8288, it will probably continue up to test 0.8321. In case the second key resistance is broken, the pair will probably attempt to advance to 0.8350.
If CAD/CHF manages to breach the first key support at 0.8226, it will probably continue to slide and test 0.8197. With this second key support broken, the movement to the downside will probably continue to 0.8164.
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