USD/CHF: Swiss Franc trading higher, ahead of Swiss inflation data


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD rose 0.17% against the CHF and closed at 0.9387 on Friday.

Macroeconomic data revealed that Switzerland’s seasonally adjusted unemployment rate remained unchanged at 3.0% in January, in line with market expectations.

In the Asian session, at GMT0400, the pair is trading at 0.9380, with the USD trading 0.07% lower against the CHF from Friday’s close.

The pair is expected to find support at 0.9356, and a fall through could take it to the next support level of 0.9331. The pair is expected to find its first resistance at 0.9407, and a rise through could take it to the next resistance level of 0.9433.

Ahead in the day, market participants would keep a close watch on Switzerland’s inflation numbers for January.

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

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