USD/CHF: Switzerland’s unemployment rate remained unchanged in October


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD declined 0.58% against the CHF and closed at 0.9941.

In economic news, Switzerland’s seasonally adjusted unemployment rate remained steady at 3.1% in October, in line with market expectations.

In the Asian session, at GMT0400, the pair is trading at 0.9945, with the USD trading marginally higher against the CHF from yesterday’s close.

The pair is expected to find support at 0.9905, and a fall through could take it to the next support level of 0.9866. The pair is expected to find its first resistance at 1.0001, and a rise through could take it to the next resistance level of 1.0058.

With no macroeconomic releases in Switzerland today, market participants would focus on global macroeconomic factors for further direction.

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

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