USD/CHF: Swiss unemployment rate surprisingly fell in September


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD declined 0.5% against the CHF and closed at 0.9749.

On the data front, Switzerland’s seasonally adjusted unemployment rate recorded an unexpected drop to 3.1% in September, while markets had anticipated it to remain steady at 3.2%.

In the Asian session, at GMT0300, the pair is trading at 0.9760, with the USD trading 0.11% higher against the CHF from yesterday’s close.

The pair is expected to find support at 0.9733, and a fall through could take it to the next support level of 0.9707. The pair is expected to find its first resistance at 0.9788, and a rise through could take it to the next resistance level of 0.9817.

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

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