USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 1.38% against the CHF and closed at 0.9735.
In economic news, Switzerland’s seasonally adjusted unemployment rate unexpectedly remained steady at 3.4% in January while markets expected it to rise to 3.5%.
In the Asian session, at GMT0400, the pair is trading at 0.9729, with the USD trading marginally lower from yesterday’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 0.9589. The pair is expected to find its first resistance at 0.9836, and a rise through could take it to the next resistance level of 0.9942.
With no macroeconomic releases in Switzerland today, market participants will look forward to Switzerland’s consumer price index data for January, set to release tomorrow.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
