USD/CHF: Switzerland’s unemployment rate fell in line with expectations in May


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD declined 0.56% against the CHF and closed at 0.9805.

Macroeconomic news indicated that Switzerland’s seasonally adjusted unemployment rate declined to 2.6% in May, at par with market expectations and hitting its lowest reading since 2008. In the prior month, unemployment rate had recorded a level of 2.7%.

In the Asian session, at GMT0300, the pair is trading at 0.9807, with the USD trading marginally higher against the USD from yesterday’s close.

The pair is expected to find support at 0.9776, and a fall through could take it to the next support level of 0.9744. The pair is expected to find its first resistance at 0.9852, and a rise through could take it to the next resistance level of 0.9896.

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

This entry was posted in USD/CHF. Bookmark the permalink.

Comments are closed.