During yesterday’s trading session CHF/NOK traded within the range of 6.8530-6.8894 and closed at 6.8643.
At 6:10 GMT today CHF/NOK was gaining 0.11% for the day to trade at 6.8716. The pair touched a daily high at 6.8768 at 5:35 GMT.
Fundamental view
Switzerland’s KOF (Konjunkturforschungsstelle) Leading Indicator probably improved to a reading of 100.00 in June from 99.79 in the previous month. The indicator measures future trends of the overall Swiss economic activity, by capturing the movement of the GDP growth. It includes three different modules – core GDP, which excludes sectors such as banking and construction and represents about 92% of the overall economic output, Banking module and Construction module. The report is scheduled for publication at 7:00 GMT. Higher than expected readings would boost demand for the Swiss franc.
Technical view
According to Binary Tribune’s daily analysis, in case CHF/NOK manages to breach the first resistance level at 6.8851, it will probably continue up to test 6.9053. In case the second key resistance is broken, the pair will probably attempt to advance to 6.9212.
If CHF/NOK manages to breach the first key support at 6.8486, it will probably continue to slide and test 6.8325. With this second key support broken, the movement to the downside will probably continue to 6.8120.
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