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


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD declined 3.87% against the CHF and closed at 0.9265.

On the data front, seasonally adjusted unemployment rate remained unchanged at 2.3% in February, in line with market forecast.

In the Asian session, at GMT0400, the pair is trading at 0.9318, with the USD trading 0.57% higher against the CHF from yesterday’s close.

The pair is expected to find support at 0.9238, and a fall through could take it to the next support level of 0.9157. The pair is expected to find its first resistance at 0.9363, and a rise through could take it to the next resistance level of 0.9407.

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

The currency pair is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.

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