USD/CHF: Switzerland’s unemployment rate remained steady in August


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD rose 0.37% against the CHF and closed at 0.9687 on Friday.

In the economic news, Switzerland’s seasonally adjusted unemployment rate remained unchanged at a rate of 2.6% in August, in line with market expectations.

In the Asian session, at GMT0300, the pair is trading at 0.9697, with the USD trading 0.10% higher against the CHF from Friday’s close.

The pair is expected to find support at 0.9659, and a fall through could take it to the next support level of 0.9622. The pair is expected to find its first resistance at 0.9717, and a rise through could take it to the next resistance level of 0.9738.

Going forward, traders will closely monitor Switzerland’s total sight deposits, scheduled to release in a few hours.

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

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