USD/CHF: Switzerland’s unemployment rate climbed in January


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD declined 0.25% against the CHF and closed at 1.0000 on Friday.

On the data front, Switzerland’s unemployment rate unexpectedly climbed to 2.8% in January, compared to a rate of 2.4% in the previous month.

In the Asian session, at GMT0400, the pair is trading at 1.0002, with the USD trading marginally higher against the CHF from Friday’s close.

The pair is expected to find support at 0.9962, and a fall through could take it to the next support level of 0.9922. The pair is expected to find its first resistance at 1.0069, and a rise through could take it to the next resistance level of 1.0136.

Trading trend in the Swiss Franc today is expected to be determined by Switzerland’s consumer price index for January, slated to release in a while.

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

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