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


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD declined 0.07% against the CHF and closed at 0.9727.

Macroeconomic data revealed that Switzerland’s seasonally adjusted unemployment rate remained steady at 3.2% in July, at par with market expectations.

In the Asian session, at GMT0300, the pair is trading at 0.97, with the USD trading 0.28% lower against the CHF from yesterday’s close.

The pair is expected to find support at 0.9676, and a fall through could take it to the next support level of 0.9651. The pair is expected to find its first resistance at 0.9749, and a rise through could take it to the next resistance level of 0.9797.

With no macroeconomic releases in Switzerland today, investor sentiment will be governed by global macroeconomic events.

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

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