USD/CHF: Switzerland’s unemployment rate rose in April


USDCHF Movement

For the 24 hours to 23:00 GMT, the USD rose 0.77% against the CHF and closed at 0.9712 on Friday.

On the macro front, Switzerland’s seasonally adjusted unemployment rate rose to 3.3% in April, in line with market expectations. In the previous month, the unemployment rate stood at 2.9%.

In the Asian session, at GMT0300, the pair is trading at 0.9703, with the USD trading 0.09% lower against the CHF from Friday’s close.

The pair is expected to find support at 0.9679, and a fall through could take it to the next support level of 0.9654. The pair is expected to find its first resistance at 0.9730, and a rise through could take it to the next resistance level of 0.9756.

Amid no macroeconomic releases in Switzerland today, investor sentiment would be governed by global macroeconomic factors.

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

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