USD/CHF: Swiss consumer prices unexpectedly remained flat in December


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD rose 0.18% against the CHF and closed at 0.9773.

Macroeconomic data showed that Switzerland’s consumer price index (CPI) surprisingly remained flat on a monthly basis in December, against market expectations for a fall of 0.1%. The index had dropped 0.1% in the prior month.

In the Asian session, at GMT0400, the pair is trading at 0.9769, with the USD trading slightly lower against the CHF from yesterday’s close.

The pair is expected to find support at 0.9753, and a fall through could take it to the next support level of 0.9736. The pair is expected to find its first resistance at 0.9785, and a rise through could take it to the next resistance level of 0.9800.

Moving ahead, traders would keep a close watch on Switzerland’s unemployment rate data for December, due to release in a while.

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

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