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


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD declined 0.24% against the CHF and closed at 1.0124.

Macroeconomic data revealed that Switzerland’s seasonally adjusted unemployment rate remained unchanged at 3.3% in February, meeting market expectations.

In the Asian session, at GMT0400, the pair is trading at 1.0115, with the USD trading 0.09% lower against the CHF from yesterday’s close.

The pair is expected to find support at 1.0080, and a fall through could take it to the next support level of 1.0046. The pair is expected to find its first resistance at 1.0155, and a rise through could take it to the next resistance level of 1.0196.

Moving ahead, investors will keep a close watch on Swiss National Bank’s (SNB) interest rate decision, due to be announced next week.

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

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