USD/CHF: Swiss unemployment rate fell as expected in December


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD rose 0.62% against the CHF and closed at 0.9834.

Macroeconomic data showed that Switzerland’s seasonally adjusted unemployment rate dropped to 3.0% in December, in line with market expectations. In the prior month, unemployment rate had registered a revised reading of 3.1%.

On the contrary, the nation’s real retail sales slid 0.2% on an annual basis in November, after recording a revised drop of 2.6% in the prior month.

In the Asian session, at GMT0400, the pair is trading at 0.9833, with the USD trading a tad lower against the CHF from yesterday’s close.

The pair is expected to find support at 0.9785, and a fall through could take it to the next support level of 0.9737. The pair is expected to find its first resistance at 0.9862, and a rise through could take it to the next resistance level of 0.9891.

The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.

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