USD/CHF: Switzerland’s jobless rate dropped in September


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD slightly rose against the CHF and closed at 0.9925.

In the economic news, Switzerland’s seasonally adjusted unemployment rate slid to 2.5% in September, in line with market expectations and following a reading of 2.6% in the prior month. Meanwhile, the nation’s total sight deposits eased to a level of CHF577.5 billion in the week ended 05 October, from CHF577.9 billion in the previous week.

In the Asian session, at GMT0300, the pair is trading at 0.9926, with the USD trading a tad higher against the CHF from yesterday’s close.

The pair is expected to find support at 0.9908, and a fall through could take it to the next support level of 0.9889. The pair is expected to find its first resistance at 0.9945, and a rise through could take it to the next resistance level of 0.9963.

The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.

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