USD/CHF: Swiss inflation rises at highest monthly rate in five years in February


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD rose 0.2% against the CHF and closed at 1.0148.

On the data front, Switzerland’s consumer price index (CPI) jumped more-than-anticipated by 0.5% on a monthly basis in February, accelerating at its fastest pace in five years. The CPI registered a flat reading in the prior month, while markets were anticipating it to climb 0.2%.

In the Asian session, at GMT0400, the pair is trading at 1.0152, with the USD trading marginally higher from yesterday’s close.

The pair is expected to find support at 1.0129, and a fall through could take it to the next support level of 1.0106. The pair is expected to find its first resistance at 1.0166, and a rise through could take it to the next resistance level of 1.0180.

Moving ahead, Switzerland’s unemployment rate data for February, slated to release in some time, will garner significant amount of market attention.

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

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